by Jonathan Bill | Jul 14, 2021 | General Info, Personal
While it may seem mundane, recordkeeping is an important chore. Gathering your tax documents throughout the year makes it easier to file your tax return the following year. And having an organized recordkeeping system overall makes it easier to understand any letters...
by Jonathan Bill | Jul 5, 2021 | General Info, Personal
In this current seller’s market, you may be considering selling your first or second home. If so, keep in mind how selling your home may affect your tax return. When filing your taxes, you may qualify to exclude all or part of any gain from the sale from your income....
by Jonathan Bill | Jun 7, 2021 | General Info, IRS, Personal
If you have one or more children age 17 or under, you may automatically begin receiving advance payments of the Child Tax Credit on July 15th. Roughly 39 million households — covering 88% of children in the United States — will begin receiving the payments as part of...
by Jonathan Bill | May 19, 2021 | GA Taxes, Personal, Small Business
Beginning July 1, 2021, owners of certain short-term rentals must begin paying hotel taxes under House Bill 317, which was signed into law by Governor Kemp last month. The law requires that home rental companies, such as Airbnb and VRBO, collect Georgia’s $5-per-night...
by Jonathan Bill | Nov 3, 2020 | Biz Taxes, Personal, Small Business, Tax Season
Each year, the IRS adjusts income thresholds, deduction amounts and tax tables for inflation using the Chained Consumer Price Index (C-CPI) as the basis for its changes. The adjustments recently announced will affect your 2021 deduction limits and tax brackets (for...
by Jonathan Bill | Sep 25, 2020 | Personal, Tax Season
If you, your spouse or your dependent child takes college classes — whether online or in-person, part-time or full-time — you may be able to offset some of the costs with tax credits. These credits reduce the amount of tax you owe. And if the credit reduces your tax...
