Goshen Location
1832 West Lincoln Avenue
Goshen, Indiana 46526
(574) 534-4040
Insight AccountingInsight Accounting
Mishawaka Location
3830 Edison Lakes Parkway
Mishawaka, IN 46545
(574) 288-4801
Achieving Success Begins with Insight
  • Home
  • About
  • Services
  • Team
  • Blog
  • Locations
  • Contact Us
  • Login
12 22 20 1291254484 ITB 560x292

The next estimated tax deadline is January 15 if you have to make a payment

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The fourth 2020 estimated tax payment deadline for individuals is Friday, January 15, 2021. Even if you do have some withholding from paychecks or payments you […]

12 15 20 940992584 ITB 560x292

Can you qualify for a medical expense tax deduction?

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. But with proper planning, you may be able to time discretionary medical expenses to your advantage for tax purposes. Itemizers must meet a threshold For […]

12 01 20 48145782 ITB 560x292

Steer clear of the wash sale rule if you’re selling stock by year end

Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale” rule. IRS may disallow the loss Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities […]

11 17 20 1088845606 ITB 560x292

Taking distributions from a traditional IRA

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals from these tax-deferred retirement vehicles. There are three areas where knowing the fine points of the IRA distribution rules can make a big difference in […]

11 10 20 1216614297 ITB 560x292

How Series EE savings bonds are taxed

Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put them away in a file cabinet or safe deposit box. You may wonder: How is the interest you earn on EE bonds taxed? And if […]

11 03 20 1164644090 ITB 560x292

Disability income: How is it taxed?

Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case with tax questions, the answer is … it depends. The key factor is who paid for the benefit. If the income is paid directly to you by your employer, it’s taxable to you as ordinary […]

10 27 20 450225543 ITB 560x292

Divorcing couples should understand these 4 tax issues

When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some people find divorce to be an even more taxing experience. Several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are […]

10 13 20 1160111467 ITB 560x292

What tax records can you throw away?

October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’re finally done filing last year’s return, you might wonder: Which tax records can you toss once you’re done? Now is a […]

10 06 20 666153058 ITB 560x292

There may be relief from tax liability for “innocent spouses”

If you file a joint tax return with your spouse, you should be aware of your individual liability. And if you’re getting divorced, you should know that there may be relief available if the IRS comes after you for certain past-due taxes. What’s “joint and several” liability? When a married couple files a joint tax […]

09 21 20 177443571 ITB 560x292 1

Can investors who manage their own portfolios deduct related expenses?

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs Act, these expenses aren’t deductible through 2025 if they’re considered expenses for the production of income. But they are deductible if they’re considered trade or […]

< 1 2 3 4 5 >»

Recent Posts

  • Retiring soon? Recent law changes may have an impact on your retirement savings
  • Didn’t contribute to an IRA last year? There still may be time
  • Did you make donations in 2020? There’s still time to get substantiation
  • 2021 individual taxes: Answers to your questions about limits
  • The power of the tax credit for buying an electric vehicle
  • Don’t forget to take required minimum distributions this year.
  • One reason to file your 2020 tax return early
  • Educate yourself about the revised tax benefits for higher education
  • The COVID-19 relief law: What’s in it for you?
  • IRS will be making millions of ”economic impact payments”
  • The next estimated tax deadline is January 15 if you have to make a payment
  • Can you qualify for a medical expense tax deduction?
  • Steer clear of the wash sale rule if you’re selling stock by year end
  • Taking distributions from a traditional IRA
  • How Series EE savings bonds are taxed
  • Disability income: How is it taxed?
  • Divorcing couples should understand these 4 tax issues
  • What tax records can you throw away?
  • There may be relief from tax liability for “innocent spouses”
  • Can investors who manage their own portfolios deduct related expenses?
  • Back-to-school tax breaks on the books
  • What happens if an individual can’t pay taxes
  • The tax implications of employer-provided life insurance
  • Are scholarships tax-free or taxable?
  • Take advantage of a “stepped-up basis” when you inherit property

Archives

  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • August 2017
  • June 2017
Website designed by IBS | Copyright Insight Accounting Group 2017
ACHIEVING SUCCESS BEGINS WITH INSIGHT

↑

© Insight Accounting 2021
Powered by WordPress • Themify WordPress Themes