If you haven’t contributed funds to an Individual Retirement Account (IRA) for the tax year 2022 or put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until April 18, 2023, the due date, not including extensions.
Monday, January 23, 2023, marks the start of the 2023 tax season and the date the IRS begins accepting and processing 2022 tax year returns.
As a small business owner, you may be able to deduct advertising and marketing expenses that help bring in new customers and keep existing ones. Even better is that these deductions help small businesses save money on their taxes. Here’s what you need to know about this valuable tax deduction:
Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2023 are as follows
Although the chances of taxpayers being audited have declined in recent years, with taxes becoming more complicated every year, there is always the possibility that a tax mistake turns into an IRS tax audit. Avoiding “red flags” like the ones listed below could help.
Taxpayers should know that the IRS sends millions of these letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be dealt with simply, without having to call or visit an IRS office.
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