DeFreitas & Minsky Accounting Blog

IRS Holding over $1 Billion in Unclaimed Income Tax Refunds

Posted by thallissey on Jun 9, 2017 10:00:00 AM

If you haven’t claimed an old income tax refund check in the past few years, you might be in luck. The IRS may still be holding on to your money. Anyone is eligible to claim a tax refund up to three years after the filing date.

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Topics: Tax Laws, Tax Returns, IRS

5 Small Business Tax Credits that Add up to Big Savings

Posted by thallissey on Apr 19, 2017 10:00:00 AM

Tax preparation is a complex process for small business owners. As a result, many first-time filers or even some experienced executives miss out on big tax credits. Before you file your tax return or plan a big business expense, learn more about how these tax breaks could help your company financially.

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Topics: Business Accounting, IRS

How to Get More Personal Tax Preparation Done in Less Time

Posted by thallissey on Apr 5, 2017 10:00:00 AM

Since the tax deadline clock is ticking, it’s time to get to get down to business. Even if you haven’t done any tax preparation yet, it’s still not too late. Our five tips will help you get everything done by April 18.

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Topics: Tax Planning, Tax Returns, IRS

Tax Questions: Who you can and can't Claim as a Dependent

Posted by thallissey on Mar 21, 2017 10:00:00 AM

While it may seem simple, there are many rules to who you can and can’t claim as a dependent. Since each qualified dependent can reduce your taxable income by more than $4,000, it’s worth examining to see if you qualify. These answers to typical tax questions about dependents will tell you everything you need to know.

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Topics: Tax Laws, Financial Planning, IRS

Your Guide to Summer Savings: Terrific Tips and Tax Breaks

Posted by thallissey on May 18, 2016 10:00:00 AM

For many people, summer is a time when spending is at its highest. With vacations, childcare and other seasonal expenses, it’s tough to find summer savings. But rather than cutting into your pleasure spending, take advantage of these terrific tips and tax breaks.

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Topics: Tax Laws, Tax Deductions, IRS

How to Reduce Taxable Income to Boost Retirement Savings

Posted by thallissey on Mar 24, 2016 10:00:00 AM

Financial planning is essential to leading a worry-free retirement. Even if you already have set aside a little money, it’s always smart to increase your retirement savings some more. Our analysis of the benefits of IRAs, 401(k)s and HSAs will show you how to reduce taxable income today.

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Topics: Tax Laws, Tax Planning, Tax Deductions, IRS

How to Spot an IRS Phone Scam this Tax Season

Posted by thallissey on Feb 18, 2016 9:38:11 AM

As tax refund checks are beginning to be issued nationwide, the IRS recently warned everyone to be on high alert to avoid becoming the victim of an IRS phone scam. The warning was issued after a government agency recorded more than 5,000 victims of tax scams since October 2013.

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Topics: Tax Returns, IRS scams, IRS

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