by allsaints | May 13, 2023 | Personal Accounting, Personal Tax Deductions, Personal Taxes
From the desk of James E. George If you received a nice tax refund last year and are expecting another one this year, you may be in for a big surprise! The income tax laws have changed and many of the tax-saving, refund generating credits have gone away. Our congress...
by allsaints | Sep 9, 2021 | Business Accounting, Personal Taxes
The IRS is backlogged in many of their processing functions, and it is causing serious problems for many of our clients. Some taxpayers still have not received their 2020 refunds for returns they filed back in April. Others are having their 2020 refunds reduced but...
by allsaints | Oct 16, 2016 | Business Tax Deductions, Business Taxes, Your Questions Answered - Business Accounting
QUESTION: Dear Taxman – I use my car in my business occasionally. I have paid for all my gas with my debit card so I have a record of how much gas I purchase. Is there anything else I need to do to deduct my auto through my business? ANSWER: Dear Reader...
by allsaints | Sep 5, 2016 | Personal Tax Deductions, Personal Taxes, Your Questions Answered - Personal Accounting
QUESTION: Dear Taxman – Every week I place cash in the collection plate at church. I recently heard I cannot deduct it since I have no banking record. Is that true? ANSWER: Dear Reader – As of August 16, 2006 a receipt from the donee organization or a bank...
by allsaints | Apr 20, 2016 | Personal Taxes, Your Questions Answered - Personal Accounting
QUESTION: Dear Taxman – How long am I required to keep my tax records? ANSWER: Dear Reader – You should save all your income tax records for the current year and six previous years. Certain tax records like your income tax returns should be kept...
