Tax Advice | TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers

What To Know About Keeping Good Tax Records

by TaxGenuity Tax Experts | Jan 30, 2022 | Tax Advice

It’s January and tax season is right around the corner. For many people that means scrambling to collect receipts, mileage logs, and other tax-related documents needed to prepare their tax returns. If this describes you, chances are, you’re wishing...

Watch Out for Holiday Gift Card Scams

by TaxGenuity Tax Experts | Jan 27, 2022 | Tax Advice

There’s never an off-season when it comes to scammers and thieves who want to trick people into scamming them out of money, stealing their personal information, or talking them into engaging in questionable behavior with their taxes. While scam attempts...

Why Using the Correct Filing Status Matters

by TaxGenuity Tax Experts | Jan 21, 2022 | Tax Advice

As taxpayers get ready for the upcoming filing season, one needs to know their correct filing status. A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and...

Credit Reports: What You Should Know

by TaxGenuity Tax Experts | Jan 15, 2022 | Tax Advice

Creditors keep their evaluation standards secret, making it difficult to know just how to improve your credit rating. Nonetheless, it is still important to understand the factors that determine creditworthiness. Periodically reviewing your credit report can also help...

Reminder: Identity Protection PIN Available To Taxpayers

by TaxGenuity Tax Experts | Jan 12, 2022 | Tax Advice

Starting in January 2021, the IRS Identity Protection PIN Opt-In Program expanded to include all taxpayers who can properly verify their identity. Previously, IP PINs were only available to identity theft victims. What is an Identity Protection PIN? An identity...

Tax Planning vs. Tax Preparation: What is the Difference?

by TaxGenuity Tax Experts | Jan 9, 2022 | Tax Advice

Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: What is Tax Preparation? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that...

Getting Ready for the 2022 Tax Filing Season

by TaxGenuity Tax Experts | Jan 3, 2022 | Tax Advice

Filing your tax return promises to be just as complicated as always – especially if you received stimulus payments or advance child tax credit payments. However, there are steps that taxpayers can take right now to make sure their tax filing experience goes...