1832 West Lincoln Avenue
Goshen, Indiana 46526
(574) 534-4040
logo400 1
Achieving Success Begins with Insight
3830 Edison Lakes Parkway
Mishawaka, IN 46545
(574) 288-4801
  • Home
  • About
  • Services
  • Team
  • Blog
  • Locations
  • Contact Us
  • Login
07 20 21 1257354272 ITB 560x292

There’s currently a “stepped-up basis” if you inherit property — but will it last?

07 06 21 1036260604 ITB 560x292

IRS audits may be increasing, so be prepared

The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics Overall, just 0.5% […]

06 28 21 1309101021 ITB 560x292

Are you a nonworking spouse? You may still be able to contribute to an IRA

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer earns compensation. However, there’s an exception involving a […]

06 15 21 1156921734 ITB 560x292

Tax-favored ways to build up a college fund

If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to minimize your expenses. Here are some possible options. Savings bonds Series EE U.S. savings bonds offer two tax-saving opportunities for eligible […]

06 08 21 655781780 ITB 560x292

Retiring soon? 4 tax issues you may face

If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may deal with when you retire: Taking required minimum distributions. This is the minimum amount you must withdraw from your retirement accounts. You […]

06 01 21 1161082225 ITB 560x292

Plan ahead for the 3.8% Net Investment Income Tax

High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some steps you may be able to take to reduce its impact. The NIIT applies to you only if modified adjusted gross income (MAGI) exceeds: $250,000 for married taxpayers filing jointly and surviving spouses, […]

05 25 21 AB72364 ITB 560x292

Many parents will receive advance tax credit payments beginning July 15

Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. How have child tax credits changed? The ARPA temporarily expanded and made CTCs refundable […]

05_18_21_1202315431_ITB_560x292

Still have questions after you file your tax return?

Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers to three questions that we’re frequently asked at this time of year. Are you wondering when you will receive your refund? The IRS has an online tool that can […]

05 11 21 1219669445 ITB 560x292

Working in the gig economy results in tax obligations

Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy had been growing, according to several reports. And reductions in working hours during the pandemic have caused even more people to turn to gig work to make up lost income. There are tax consequences for the people who perform […]

05 04 21 1311919787 ITB 560x292

Tax filing deadline is coming up: What to do if you need more time.

“Tax day” is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed the usual April 15 due date due to the COVID-19 pandemic. If you still aren’t ready to file your return, you should request a tax-filing extension. Anyone can request one […]

«‹ 3 4 5 6 ›»

Recent Posts

  • IRA charitable donations: An alternative to taxable required distributions.
  • Valuable gifts to charity may require an appraisal
  • Thinking about converting your home into a rental property?
  • Want to turn a hobby into a business? Watch out for the tax rules
  • Once you file your tax return, consider these 3 issues.
  • Selling mutual fund shares: What are the tax implications?
  • It’s almost that time of year again! If you’re not ready, file for an extension
  • The tax rules of renting out a vacation property
  • Lost your job? Here are the tax aspects of an employee termination
  • Married couples filing separate tax returns: Why would they do it?
  • Did you give to charity in 2021? Make sure you have substantiation
  • The Ins and Outs of IRAs
  • Help safeguard your personal information by filing your 2021 tax return early.
  • How will revised tax limits affect your 2022 taxes?
  • Are you eligible for a medical expense tax deduction?
  • Gig workers should understand their tax obligations.
  • Stock market investors: Year-end tax strategies to consider
  • How are court awards and out-of-court settlements taxed?
  • With year-end approaching, 3 ideas that may help cut your tax bill
  • New digital asset reporting requirements will be imposed in coming years
  • Remember to use up your flexible spending account money.
  • Factor in taxes if you’re relocating to another state in retirement
  • Thinking about participating in your employer’s 401(k) plan? Here’s how it works
  • Vacation home: How is your tax bill affected if you rent it out?
  • Navigating the tax landscape when donating works of art to charity

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • 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

ACHIEVING SUCCESS BEGINS WITH INSIGHT

↑

© Insight Accounting 2022
Powered by WordPress • Themify WordPress Themes