Kevin Shaw CPA

Year-End Tax Tips: Business Deductions & Tax Reduction

Business deduction strategies Your goal should be to get the IRS to owe you money. Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash when you pay less in taxes. Here are six powerful business tax-deduction [...]

By |2021-12-09T09:21:29-07:00December 9th, 2021|News|Comments Off on Year-End Tax Tips: Business Deductions & Tax Reduction

Year-End Tax Tips: Family, Marriage, & Stock Portfolio

The year is nearly over, and as we head into the final month of 2021 it can be helpful to review some year-end tax tips for your personal and family finances. The following guidelines may help you either increase the amount of your income tax return, increase possible deductions, or decrease/eliminate certain taxes. Marriage, kids, [...]

By |2021-12-07T14:41:52-07:00December 7th, 2021|News|Comments Off on Year-End Tax Tips: Family, Marriage, & Stock Portfolio

Prepare to Pay Taxes on Your NFL Sports Bet Winnings

The NFL season is upon us again, and a record high of 45.2 million Americans plan to place bets on this season’s results. If you are among them, it’s important to know what it means if you win — in other words, how much you’ll owe the IRS. All income is taxable, and sports bet [...]

By |2021-09-17T10:10:56-06:00September 17th, 2021|News|Comments Off on Prepare to Pay Taxes on Your NFL Sports Bet Winnings

Protecting Yourself from Tax Scams and Data Theft

Keeping your data and private information secure is important in every facet of life and business — and protecting your tax information is one of the most critical ways to help prevent data and identity theft. We want to make sure you are always well-equipped with best practices for safeguarding your data, taking proper security [...]

By |2021-08-26T09:39:57-06:00August 26th, 2021|News|Comments Off on Protecting Yourself from Tax Scams and Data Theft

Have You Set Up an Online IRS Account Yet?

Federal taxes have been around for over 100 years (since 1913), and the IRS has been around even longer (since way back in 1862). But that doesn’t mean managing your taxes needs to be an archaic process. To help you keep your taxes up to speed with the digital world, the IRS allows you to [...]

By |2021-07-29T15:36:46-06:00July 29th, 2021|News|Comments Off on Have You Set Up an Online IRS Account Yet?

Are You Subject to Backup Withholding? A Helpful Guide

There are various situations in which someone must issue a 1099 form to another party, one of the most common being a vendor offering services to another company. In other words, any independent contractor that is not included on company payroll. Other situations include paying interest on a private loan or dividends paid to shareholders [...]

By |2021-06-23T14:36:14-06:00June 23rd, 2021|News|Comments Off on Are You Subject to Backup Withholding? A Helpful Guide

Do You Have Kids? Important Changes to The Child Tax Credit You Need to Know

Many of you receive a child tax credit each year either as a reduction of taxes owed at the end of the year or as an increase in your refund amount. In 2021, there are several critical changes that have gone into effect that will impact both the way you receive this tax credit as [...]

By |2021-06-10T16:02:47-06:00June 9th, 2021|News|Comments Off on Do You Have Kids? Important Changes to The Child Tax Credit You Need to Know

Can You Get Part of Your Health Insurance Premium Paid For? | Premium Tax Credit

If you or your family members enroll in coverage from the Health Insurance Marketplace, you may be eligible for a refundable credit that helps cover premiums for health insurance. Under the American Rescue Plan Act (ARPA), there is also a new regulation that you won’t have to pay back your premium tax credit from 2020. [...]

By |2021-05-03T15:00:32-06:00May 3rd, 2021|News|Comments Off on Can You Get Part of Your Health Insurance Premium Paid For? | Premium Tax Credit

Unemployment Tax Break: Are You Eligible?

The last year has been an anomaly to say the least, and because of that many tax payers have had to file for unemployment. Typically, unemployment income is taxable both federally as well as on the state level. As of March, however, the American Rescue Plan enacted by the IRS has granted a new tax [...]

By |2021-05-12T15:52:49-06:00April 1st, 2021|News|Comments Off on Unemployment Tax Break: Are You Eligible?

Your Third Stimulus Check: What You Need to Know

Many of you have been waiting patiently for more information regarding the third stimulus payment. Good news — it’s finally here and we have all the most important questions answered for you below (like how much, when, and whether or not you qualify). Make note that the stimulus payment is not one-size-fits-all and will look [...]

By |2021-03-25T16:33:23-06:00March 19th, 2021|News|Comments Off on Your Third Stimulus Check: What You Need to Know
Go to Top