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

Solar Technology Tax Credits Still Available for 2019

by TaxGenuity Tax Experts | Nov 29, 2019 | Tax Advice

Certain energy-efficient home improvements can cut your energy bills and save you money at tax time. While many of these tax credits expired at the end of 2016, tax credits for residential and non-business energy-efficient solar technologies do not expire until...

New Twist on the Social Security Number (SSN) Scam

by TaxGenuity Tax Experts | Nov 26, 2019 | Tax Advice

New variations of tax-related scams show up at regular intervals, the most recent one related to Social Security numbers. Don’t be fooled, however; it’s nothing more than a new twist on an old scam and yet another attempt to frighten people into returning...

Seasonal Workers and the Healthcare Law

by TaxGenuity Tax Experts | Nov 20, 2019 | Tax Advice

Businesses often need to hire workers on a seasonal or part-time basis. For example, some businesses may need seasonal help for holidays, harvest seasons, commercial fishing, or sporting events. Whether you are getting paid or paying someone else, questions often...

Tax Tips for Owners of Historic Buildings

by TaxGenuity Tax Experts | Nov 17, 2019 | Tax Advice

If you own a historic building you should know about a tax credit called the rehabilitation tax credit, which offers an incentive to renovate and restore old or historic buildings. Here are seven facts that building owners should know about this credit: The credit is...

Tax Treatment of Virtual Currency Transactions

by TaxGenuity Tax Experts | Nov 14, 2019 | Tax Advice

If you’ve invested in Bitcoin and decide to sell you need to consider the impact of virtual currency transactions on your taxes. Here’s what you should know: Background Prior to 2014, there was no IRS guidance and many people did not understand that...

Year-End Tax Planning Strategies for Businesses

by TaxGenuity Tax Experts | Nov 10, 2019 | Tax Advice

A number of end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2020 by delaying end-of-year...

Year-End Tax Planning for Individuals

by TaxGenuity Tax Experts | Nov 6, 2019 | Tax Advice

With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for 2019. General Tax planning Strategies General tax planning strategies for individuals include postponing income and...