Benefits of E-Filing State and Federal Tax Returns

When it comes to tax season, there is nothing like making what can sometimes be stressful – a little bit easier. One way of doing that is by e-filing and here are the benefits of e-filing your state and federal tax returns. As with anything, there are pros and cons and we will address both […]

Tax Issues for Uber, Lyft, and Airbnb That You Need to Know

Making an income by renting an extra bedroom or using your vehicle to transport people is a relatively newer type of income sometimes called Sharing Economy. This type of work includes Uber, Lyft, and Airbnb among other platforms where help people who commute, rent vacation accommodations, have a place for their dogs to stay while […]

5 Red Flags That Could Trigger an IRS Audit

According to the IRS Oversight Board’s annual taxpayer survey, the majority of Americans, about 86%, believe that it’s wrong to cheat on federal income taxes, most agree that people who do cheat should be punished, and 95% mostly or completely agree that “it’s every American’s civic duty to pay taxes.” Although there are no reliable […]

Why You Need Estate Tax Planning Strategies

“Tax,” “Plan” and “Strategy” are three very powerful words. No one wants to pay more tax than they should. Planning to avoid excessive taxes takes sound advice, and that advice usually results in putting together a strategy. An estate tax-planning strategy is even more important, because estate taxes may not affect you or your family […]

Trusts and Bankruptcy: Using the Right Tools

If you have a living trust, you may be confident that your assets are protected no matter what may befall your estate. The truth is that your property and money might still be vulnerable to your creditors, the IRS and bankruptcy court. What is a Living Trust? It is a legal written statement of how […]

4 Tips for Deducting Losses from a Disaster

On the night of November 28, 2016, the devastating fires in Sevierville County forced over 14,000 people from their homes, injured 191 people and 14 people died in the fire or related to the fire. The small vacation destination was devastated. More than 2,460 buildings were damaged or destroyed in the Chimney Tops #2 fire. […]

3 Ways Trusts May Benefit You

Unless you look at tax laws and think “pff, childs’ play!” you’re probably looking to make things in your life a bit easier. Trusts can do that. This post defines what a trust is and describes the types of trusts and the benefits of using trusts. Read on for three relatively simple ways that you […]