Tax Tips for New Parents: How to Maximize Your Savings Congratulations! Bringing a child into the world is a joyous and... read more

Tax Breaks and Home Sales - When you sell your home, there can be tax consequences that you should be... read more

Tax and Corporate Sponsorship As business owners, we are usually involved with not-for-profits. And their mission is to raise money for... read more

Tax season 2023 is almost upon us. According to the IRS, the 2023 eFile Tax Season starts in January 2023:... read more

Top 8 Mistakes On Tax Returns A typo or unintentional error can become a significant problem when you file a tax... read more

You need to know your federal tax obligations during Chapter 13 Bankruptcy. Know Your Tax Responsibilities During Bankruptcy. Chapter 13 bankruptcy... read more

How to know it’s really the IRS calling or knocking on your door Many taxpayers have encountered individuals impersonating IRS officials... read more

This isn't a tax change; it's a tax reporting change. If you're a gig worker, freelancer, or self-employed American, it might... read more

 Tips to Reconstructing Records. Do You Have Your Destroyed Records from the most recent disaster? The time and work recovering from... read more

Charitable Contributions and Taxes. If you give money or goods to a charity, you may be able to claim those... read more

Here are 6 Tips You Can Use To Lower Your Taxes in 2021. Leverage pre-tax savings. Take advantage of opportunities to... read more

Tax Benefits for the Military - Members of the various military service branches may qualify for tax benefits not available... read more

Jewelry making, baking cookies, teaching yoga, freelancer, and social media manager are a few home-based businesses that have become popular... read more

What is a Ghost” Tax Preparer? Some taxpayers are a bit savvier than the average person and take great pains in... read more

Cousin Freddy needs a quick loan, and you graciously say, "How much?" and later, you wonder, what have I gotten... read more

Rent Your Property Tax-Free! Most income you receive is reported to the federal and state tax authorities as taxable income. However,... read more

Surprise! These five items are taxable. Of course, you already know that wages and self-employment earnings are taxable, but what... read more

A 2022 tax surprise… your tax liability may have increased. Check this out. For the past several years, your tax... read more

Filing taxes? Then you must include all income in your tax preparation. Here is a partial list of the types of... read more

There are just 22 days left of 2021, and there is still some time left to consider these 15 Year-End... read more

Taxes can be stressful for a business owner. You wear many hats, juggle many balls, and the last thing you... read more

Tax Moves to Make Before Year-End - Are you looking to try and reduce your taxable income? Here are some... read more

Why do I need a tax strategy session? A year-end tax planning meeting with your Enrolled Agent (EA) is a... read more

Most income received from your employer generally ends up on a W-2 tax form at year's end. However, some income... read more

Tax-loss harvesting, what the heck is that? Simply put, it is when you sell some investments at a loss to offset gains... read more

Using an Installment Sale to Help Sell Real Estate and What to Look Out For You may be able to benefit... read more

Do you know the 9 ways realtors can reduce their income tax bill? Is the IRS a dreaded agency that... read more

If you are a taxpayer receiving certain types of income payments, the IRS requires the payer of these payments to... read more

The 2021 Child Tax Credit Update - Important changes to the Child Tax Credit (CTC) will help many families get... read more

Are you adopting? You just might benefit from this special credit.  Here is some information you should know. What exactly... read more

The American Rescue Plan passed and will be signed into law at the end of the week. Here's a look... read more

You already know that your wages are taxable. Here are some other things that may be taxable. 1. Scholarships - If... read more

Employee or an Independent Contractor, sometimes it's hard to tell. Are you an independent contractor or an employee? As the pandemic... read more

The IRS IP Pin Program is Open! The IRS has expanded their pilot program that uses Identity Protection Personal Information Numbers... read more

Tax ID Theft. Don’t Be A Victim. Here are 7 Tips to Reduce Your Chances of Becoming a Victim of... read more

It’s Your Salary so who decides how much your paycheck should be? You or the IRS? You are the business owner.... read more

Stay Out of Tax Trouble By Avoiding These 5 Common Tax Filing Mistakes Whether you file a simple 1040EZ or a... read more

Selling Your Home? Here are Ten Tax Facts to Know Generally, the gain from the sale of the house is... read more

Tax Forms: How to Store Them, How to File Them and How to Reduce Your Liability Working from home can be... read more

You've worked your entire life. You’ve got your retirement all planned out. Your retirement savings accounts are where you wanted... read more

In response to the coronavirus pandemic, the IRS has implemented numerous changes that go well beyond tax filing extensions and... read more

On March 18, 2020, the Families First Coronavirus Response Act was signed into law, marking the second major legislative initiative to address COVID-19.... read more

This article is an overview of the Payroll Protection Program or PPP, which is just one of the loans available... read more

SFS Tax & Accounting Services has an update on financial help and the latest on the Corona COVID-19 drama with... read more

Tax season is here, and you may be seeking someone new to prepare your tax return. However, remember that you,... read more

I have unfiled tax returns. What should I do? Seven million taxpayers failed to file their taxes in 2014. Are you... read more

The IRS recently announced the list of increased tax deductions for 2020. The Internal Revenue Service recently issued its annual inflation... read more

The IRS Increases 401K Contribution Limits for 2020. As part of its annual inflation adjustments, the Internal Revenue Service announced... read more

One of the positive effects of donating (money) to a charity is simply feeling good about giving. Your ability to... read more

Resolve Your Back Taxes…8 Reasons to Work with a Certified Tax Resolution Professional When you owe money to the IRS, it... read more

Five Federal Income Tax Breaks for Adult Students Here are Five Federal Tax Breaks for Adult Students that could help you... read more

Throughout your life, there will be certain significant occasions that will impact not only your day-to-day living but also your... read more

The marriage penalty is still alive and well. If you're changing your filing status in 2019 because of marriage, divorce, or... read more

Real Estate Agents: Updated List of Available Deductions For busy real estate agents who manage their own finances, it can be... read more

Where’s My Tax Refund? Now that the April tax-filing deadline has come and gone, many taxpayers are eager to get details... read more

Tax Law Tips for Truckers in 2019 When President Trump signed the Tax Cuts and Jobs Act of 2017 it came under immediate... read more

10 Times When Only a Tax Professional Will Save You The Limitations of DIY Tax Preparation and How They Can... read more

2019 “Dirty Dozen” List of Tax Scams The Internal Revenue Service wrapped up its annual "Dirty Dozen" list of tax scams.... read more

Even though Cryptocurrency was originally proclaimed anonymous, transactions today are transparent. Governments have observed surges of black-market trading using Crypto... read more

Freelancers and independent contractors face unique challenges during tax season. Here are some quick tips to better manage the process... read more

What is the Earned Income Tax Credit? Do I Qualify? The Earned Income Tax Credit (EIC or EITC) is a refundable... read more

Tax Breaks for the Military Family There are certain tax breaks available to members of the U.S. military and their dependents: Sale... read more

Here's Why You Need to Know Oftentimes, businesses are hiring employees and handing them 1099 Forms to save themselves money. They... read more

Homeowner Alert! Review Your Tax Forms New Tax Rules are Creating Confusion Tax laws are constantly changing. Many home-related tax rules... read more

How to Organize Your Business Documents For even the smallest of businesses, getting organized involves a lot more than just tidying... read more

Reasons Why You Should Hire an EA Every year, millions of taxpayers decide to perform complex tax preparation by themselves and,... read more

Do I Qualify as Head of Household? We know that selecting the correct status can get confusing. The Internal Revenue Code... read more

Are Your Cannabusiness Profits Going up in Smoke? With tax season starting, questions from both legal and illegal cannabis companies begin... read more

6 Ways to Get Your Tax Refund Faster As the tax filing season approaches, there are steps you can take now... read more

We’ve spent the last 10 months combing through the 100+ page Tax Cuts and Jobs Act (TCJA) of 2017. There... read more

4 Tips on Safely Donating Online We live in very unsettling times — at least from the standpoint of cybersecurity. According... read more

The tax reform legislation enacted in December 2017 offers a new tax credit for employers who provide paid family and... read more

Understanding Income Tax Refund Loans and Back Taxes Do you file your taxes electronically? If you do, and the government deposits... read more

Retirees Not Withholding Enough The IRS has announced that retirees may not be withholding enough for taxes this year. There were... read more

Is Crypto to Crypto Taxable? Crypto income is taxed differently. It mainly depends on whether you're buying and selling coins or mining them. All crypto... read more

9 Tax Deductions Every Real Estate Agent Should Know Tax season is coming up soon, and if you’re a real estate... read more

Tax Reform Brings Changes to Fringe Benefits that can Affect an Employer’s Bottom Line The Tax Cuts and Jobs Act impacts... read more

Helping Taxpayers Understand Different Filing Statuses Getting ready for tax return season, but unsure of how to file? Married? How do... read more

  Victims of reneged payment agreements might have a tax deduction Let’s face it – it’s always frustrating not being paid what... read more

Small Business: Tax Tips for the Freelancer If you are an employee, you most likely pay little attention to your taxes... read more

IRS Extends Deadlines for Victims of Hurricane Michael Hurricane Michael victims in parts of Florida and elsewhere now have until Feb.... read more

Who Must Pay Estimated Taxes Do I have to pay estimated taxes? This is a normal question to ask, but it is... read more

Tax Breaks with an IRA What is an IRA? Individual Retirement Arrangements – aka IRAs – are accounts into which someone can deposit money... read more

Organizing Your Tax Documents Having a small business and filing your taxes is a whole lot different from filing personal taxes... read more

Organizing Your Tax Documents Let’s be honest, sometimes we’re all a little messy and unorganized. Life was much easier as a kid,... read more

What is Cryptocurrency? Virtual currency (or crypto currency) is a medium of exchange using cryptography to secure transactions and control the... read more

Here’s something the public generally turns a blind eye towards… your yearly tax changes. Have you used the Tax Withholding... read more

  In part one of this series, we covered how the Tax Cuts & Jobs Act affects you as a small... read more

AN OFFER IN COMPROMISE If you’re having trouble affording payments to the IRS to settle any outstanding debts, consider applying for... read more

The IRS is considered the most brutal collection agency on the planet – backed by the power of the federal... read more

The world of taxes is one big minefield to navigate. Unless you spend most of your waking hours studying it... read more

In part one of this three-part series, we looked at changes to the income tax rates and brackets. Income is only... read more

Since folks have not filed a 2018 tax return, the new tax law passed late last year is largely a... read more

Look out! We’re down to just five days to file Form 2290 (also known as the Heavy Highway Vehicle Use... read more

The most sweeping change to tax law in decades was ushered in late in December of 2017. The Tax Cuts... read more

Today I am sharing a bit of "What's new in the SFS Tax office."     We are pleased to announce that we... read more

Find Out About Tax Credits that Can Help Offset the Cost There is no doubt that the cost of college can... read more

That Means Extended Tax Deadlines are Coming! Give Yourself Time to Avoid These Common Mistakes Air conditioners everywhere are feeling the... read more

Student Loan Forgiveness Can Create a Big Tax Debt. Student loan debt levels are out of control. Need proof? The class of... read more

10 Things You Need to Know. To be in charge of your own destiny – that is the dream of many... read more

There are Tax Consequences. With the rise of Airbnb (along with hotel prices), it’s not a surprising trend. Homeowners looking to earn... read more

Could We See a Reversal of the SALT Deduction Cap?On July 17, four states filed suit against the federal government... read more

The New 20% Pass-Through Deduction Can Make a Big Difference in Your Tax Bill. One of the winners from the... read more

As we reflect on the ubiquitousness of hot dogs in American life – they are all over our sports stadiums,... read more

Ever thought about becoming an Uber driver part-time? How about renting out a spare bedroom in your home? Maybe offering... read more

Supreme Court Decision Opens the Door for State & Local Internet Sales TaxesThings are about to change in the realm... read more

If you wrote a check to the IRS in April for 2017 taxes, there’s a good chance you could be... read more

It was probably cold the night of December 16, 1773. Three ships – the Beaver, the Dartmouth, and the Eleanor –... read more

With changes and updates happening to the tax law continually, it can be hard to stay up-to-date. For business owners... read more

Medical professionals paying out of pocket for their uniforms. Road warriors who don’t get the federal mileage rate from their... read more

What is Tax Planning and Why Do I Need It? The only constant is change. That applies just as much to... read more

Ahhh… summer! Enjoy a more relaxed schedule, warmer weather, backyard barbeques and sandy-yet-fun trips to the beach. In between all... read more

It's a Little Trickier This Year. Figuring out quarterly tax payments is a little more complicated this year. The Tax Cuts... read more

What You Need to Know. It’s never too late to get financially fit. Here are some simple and painless ways to... read more

Part Two of What did the Tax Cuts & Jobs Act Do to My Income Tax?  Standard Deduction & Child Tax... read more

Many changes were ushered in by the Tax Cuts & Jobs Act which passed in December 2017. Depending on your... read more

A Hurricane Tax Holiday. Many of us remember the wrath of Hurricane Irma last September. It seems like yesterday! It can... read more

In honor of National Wine Day, we’re counting down the ways that wine can help you when it comes to... read more

Which One is Legal? (The IRS Said So) Everyone knows you’re supposed to pay your taxes. If you don’t, that’s illegal.... read more

All About Tips (The Kind You Give at Restaurants). An SFS Tax & Accounting Services Blog.  This shouldn’t be news to... read more

IRS Warns of Crooks Directing Taxpayers to IRS.gov to "Verify" Calls. IRS scams are like cockroaches. You kill all you find, but... read more

Why do We Pay Taxes Anyway?  No one likes paying taxes. It’s easy to focus on that check you write to the... read more

IRS Tax Deadlines Happen All Year Long. A lot of focus and attention is paid to April 15th (17th this year)... read more

Everyone knows to file an extension if they need more time to prepare their tax returns. (Of course, you don’t... read more

Do a Paycheck Checkup and See If You Are You Taking Home Too Much Money The Tax Cuts and Jobs Act... read more

Ghost Tax Preparers, That Is! The IRS has issued a warning against “ghost” tax return preparers. These phantom preparers do exist… and... read more

Top Five Tax Myths and the truth. It doesn’t matter what your friend’s cousin’s co-worker said. When it comes to taxes,... read more

The IRS Recommends Filing an Extension if You Need One. With about a week to go on filing your 2017 tax... read more

Don’t Panic! Here’s What You Need to Know About Extensions. Life gets in our way sometimes. When those W-2s, 1099s, 1098s... read more

Did you forget to file your tax return for 2014? If so, you might want to. There is $1.1 billion... read more

Here's What You Need to Know About Taxes. Congratulations on selling your home! After you break out the bubbly and toast... read more

Mom and Dad are getting older. They may even be relying on you for support. That’s why it’s good to know... read more

Get Your Paycheck Checkup Now! As we wind down on the 2017 tax season, there’s another one gearing up. The... read more

It’s not too late! You have until April 17, 2018 to make a qualified IRA contribution to receive a 2017... read more

We all need a little humor during these dog days of the tax season. Each year, the Minnesota Society of Certified... read more

You can feel the pressure. The tax deadline is looming and you know you owe the IRS money. Problem is,... read more

If only William Shakespeare could have traveled back in time to early 44 B.C. He would have been able to warn... read more

As you may or may not know, my younger sister recently passed away and Ali and I just returned from... read more

Well, my friends, it is now March, and baseball spring training is back in full (ahem) swing. Not sure why... read more

Scammers Are Using Your Bank Account to Rob the IRS. Did you notice a large deposit in your checking account from... read more

Today is International Polar Bear Day. In its honor, we are ruminating on how a polar bear is like the... read more

TurboTax users beware! That email asking you to take a look at your W-2 may be fake. People who use TurboTax... read more

It's tax time again! It's that time of year when those expecting a tax refund watch their bank accounts like... read more

There are many people phishing in fraudulent waters trying to bait you. Business owners the W-2 scam has reared its... read more

This week it’s All About, Me, Jeffrey Schneider, EA, CTRS, Your Tax Professional! I recently had the distinct honor of being selected... read more

Yep, it's Monday and not Thursday but last week was a busy one and I wanted to share this information... read more

Don't Knock Yourself Out! Get help from SFS Tax. In my last letter to you, my fellow Green Thumbers, I... read more

Post Halloween Scammers Now that Halloween is over and the ghost and goblins costumes have gone back into storage, you need... read more

Everything You Need to Know… Hurricane Harvey and Irma Relief As our communities work to recover from Hurricanes Harvey and Irma,... read more

IRS Offers Tax Filing Relief to Hurricane Irma Victims in Florida. SFS Tax & Accounting Services Helps Florida Affected Taxpayers. The... read more

What Does the Eclipse Have to do with Taxes! Eclipse Day is here! We are in Nashville, and they say it could feel like... read more

6 Tax Tips for Startup Businesses Taxes are rarely the first thing an entrepreneur considers when they plan a new business.... read more

**Understand your responsibilities Settlement of a debt is not the end of the story. Creditors who forgive $600 or more of your... read more

The SFS Tax & Accounting Top 3 Apps to Track Your Business Miles…   You need to keep a log if you... read more

Big Changes for the 2017 – 2018 FAFSA If you have a child beginning college or already enrolled in school you... read more

Are You Making This Common Mistake and Will it Hurt You at Tax Time? Using your company credit card for personal... read more

SFS Offers Tips for Teenage Taxpayers with Summer Jobs   Summertime is here, and many students and teenagers get summer jobs to... read more

Do You Know About These 5 Overlooked Medical Tax Deductions? It’s getting more and more difficult to claim medical tax deductions.... read more

Extension, procrastinator…Who me? Are you one of those “wait till the very last minute” type of people” better known as a... read more

Yet Another New Warning on a Last-Minute Tax Scam!! It seems that we receive notices almost daily about new and more... read more

Beware the Ides of March William Shakespeare famously wrote “Beware the Ides of March” in the play Julius Caesar in 1599... read more

Using Tax Software is not a Substitute for an Enrolled Agent   The tax software companies want you to believe that their... read more

Can You Claim Your Parents as Dependents? With so many millennials moving back home with mom and dad, the question of... read more

Don’t Fall for Scam Calls and Emails Posing as IRS Scammers are continuing to use the IRS as a lure and... read more

How We Wound Up with the Income Tax Imagine a world without income tax; if you were an American citizen before... read more

Filing Season Opens – with Possible Refund Delays Port St Lucie, Fl. — (January 23, 2017) Tax filing season for individuals... read more

Last-Minute Savings for Tax Year 2016   Last-Minute Savings for Tax Year 2016 Attention last minute savers! There’s still time to reduce your... read more

IRS Defines Income.. Are you reporting ALL your income? The Internal Revenue Code defines income as “…all income from whatever source... read more

I received a notice from the IRS… Now what? Receiving a notice in the mail from the IRS does not always... read more

Energy Credit Can Help You Trim Taxes Energy bills too high?  You can trim your taxes and save on those bills... read more

Tax Saving Strategies for Parents Do you have kids? Children may help reduce the amount of taxes owed for the year.... read more

Tax Tips about Filing an Amended Tax Return We all make mistakes so don’t panic if you made one on your... read more

IRS Warns Taxpayers to Guard Against New Tricks by Scam Artists Following the emergence of new variations of widespread tax scams,... read more

Tax Tips for Starting a Business When you start a business, a key to your success is to know your tax... read more

How To Prepare for a Tax Audit By Jeff Wuorio For the Deseret News Published: Monday, April 13 2015 2:00 p.m. MDT April... read more

Warrior Pose — One way to help veterans with PTSD? Lots of yoga. Yes, we are a Tax & Accounting firm,... read more

REMINDER FROM YOUR LOCAL ENROLLED AGENT  YOU  NEED TO FILE ON TIME EVEN IF YOU CAN’T PAY Port St Lucie, Fl. (April... read more

The Individual Shared Responsibilty Provision Just the  Basics! The individual shared responsibility provision requires that you and each member of your family have qualifying... read more

Affordable Care Act Consumer Alert Choose Your Tax Preparer Wisely The IRS is urging taxpayers to choose their tax professional carefully as... read more

Small Business Health Care Tax Credit Do you own or run a small business or tax-exempt group with fewer than 25... read more

Cover Charge: How the ACA Is Affecting Tax Prep Fees On March 6, Jeffrey Schneider, EA, NTPI Fellow was quoted in... read more

The Top 10 Special Tax Benefits for Armed Forces If you are a member of the U. S. Armed Forces, here... read more

Same-Sex Newlyweds Will Be Filing Tax Returns In A New Way Washington, DC, (February 17, 2015) Despite Alabama Chief Justice Roy... read more

Before You Hire a Tax Pro, Check Credentials Port St Lucie, FL, February 23, 2015—Although you may not have received all... read more

Port St. Lucie Enrolled Agent is accepted into the ASTPS Jeffrey Schneider, EA, NTPI Fellow, a Port St. Lucie, EA has... read more

 Eight Honored at the 2014 NAEA National Conference - Port St Lucie Businessman Receives Education Award Washington, DC — (August 18,... read more

IRS Adopts "Taxpayer Bill of Rights" The Internal Revenue Service has announced the adoption of a “Taxpayer Bill of Rights” that... read more

IRS Warns Taxpayers Warn of “Largest Ever Phone Fraud Scam” The Treasury Inspector General for Tax Administration, J. Russell George, warned... read more

A sophisticated phone scam targeting taxpayers, including recent immigrants is on the rise throughout the country. Victims are told they owe... read more

Treasury and IRS Announce That All Legal Same-Sex Marriages Will Be Recognized For Federal Tax Purposes The U.S. Department of the... read more

Payroll Tax Cut Extended to the End of 2012 The IRS released revised Form 941, enabling employers to properly report the newly-extended... read more

More Time to Contribute to IRAs in 2012 You have two extra days this year to make contributions to your Individual... read more

Health Insurance Tax Breaks for the Self-Employed If you’re self-employed and paying for medical, dental, or long-term care insurance, the IRS... read more