Uncategorized Archives | Rue & Associates

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17
May

The Break Down on Audits

The purpose of the audit is to determine that the tax return is substantially correct. At the end of the audit, one of three things are going to happen. Either you will owe the government money, the government will owe …

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13
May

Be Wary of Credit Repair Companies

It is almost impossible to open your email or browse online without stumbling across ads to repair your credit. Companies that promise instant and remarkable improvements to your credit cannot deliver on their word. With credit at a premium, families …

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10
May

Many Individuals Were Left Shocked by Their Tax Refunds

Many taxpayers were upset when they found out that they owed money to the federal government. And if taxpayers don’t adjust their paycheck withholdings, next year could bring an even bigger surprise. New guidance from the IRS prompted employers to …

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01
May

What to Keep After Filing Taxes?

You want to hold on to your tax return and supporting documentation for at least three years. In a few specific situations, some documents will need to be kept even longer. Three years. You typically want to keep your tax returns …

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03
Apr

The Top Tax Scams to Watch Out For

Tax Day is fast approaching. There are only a few weeks left to file returns before April 15. But in the rush to file your taxes, be sure you don’t fall victim to a tax scam. The Internal Revenue service …

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25
Mar

Tax Consequences of Having a Side Business

When it comes to stretching your budget, working a side job is an effective way to ensure you’re earning enough to cover your expenses. But this can carry repercussions for your taxes. Freelancers should prepare for the very real tax …

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21
Mar

Tax Rules You Should to Know When You Receive or Give Cash

Whether you prefer to gift or receive money from loved ones or earn money from a patchwork of different projects, reporting those payments at tax time can be tricky. What’s more, cash gifts are subject to their own regulations and tax rates. …

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16
Mar

Tax Deductions That Are Disappearing This Year

This tax filing season taxpayers are poised to experience the impact of the Tax Cuts and Jobs Act of 2017, which eliminated beneficial deductions and credits. Pushed as the largest tax overhaul in 30 years, the law could be a …

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07
Mar

How Americans Are Using Their Tax Refunds

For many Americans, an annual check from Uncle Sam offers a rare opportunity to better their financial footing, and fewer adults these days want to blow it on an excursion. On average, taxpayers expect to receive $3,030 back from the …

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28
Feb

Deducting Business Use of a Vehicle

If you use the car for both business and personal purposes, you may deduct only the cost of its business use. You can generally figure the amount of your deductible car expense by using one of two methods: the standard …

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