Allen Tax Planning

The IRS has hints to determine if your identity is stolen, everyone should know this bank secret, and NFTs are a must know phenomena.

Time to file your tax return for 2020 if you have not already done so. There is no reason to leave a possible refund on the table, and the IRS is not going to beg to send you back your money.

Ouch! Property taxes are on their way up. Here is what you can do to keep your property taxes as low as possible.

Know when to keep or throw out your tax records. Here is what you need to know.

Reminder: 3Q estimated taxes due Wednesday, September 15.

The IRS assumes you'll charge interest if you make personal loans, even to friends and family. Even if you don't charge interest, you'll owe tax on an assumed rate of interest.

Now is the time to lower this year's tax bill! Here are ideas to do that PLUS save valuables from thieves.

Within each tax surprise is a common lesson. Here is an actual story that cost $24,000 and a lesson for everyone.

Being married can be bliss, but often not within the tax code. Here are some pitfalls of being married in the eyes of the taxman.

Living in another state to work remotely or to retire often causes tax problems. Here is what you should know.

Retirement account investments in mutual funds come with hidden tax traps and benefits. Here are some of them.

If you use an installment sale to sell property, you may save on taxes by spreading out the tax over a number of years. But be careful! If not properly planned, you may have a nasty tax surprise.

With all the changes last year, now is a great time to conduct a tax checkup, especially since their is still time to make adjustments.

Here are the standard mileage rates for 2021.

Are you capturing all the tax benefits built into homeownership? Here are the most common.

Unlike fishing, phishing has no limits and can hurt anyone it touches. As one of the top 12 IRS tax scams, you do not want to take this bait. Here is what you need to know.

With the setting of contribution limits to qualified retirement plans for 2021, now is a good time to plan for your upcoming retirement contributions.

Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.

Here are 15 ideas that may reduce your tax bite for this year. But act soon as the year-end is fast approaching.

The Social Security Administration recently announced their 2021 Cost-of-Living Adjustment (COLA) changes. Here is what you need to know.

If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS.

Find out if a tax trap is lurking in your paycheck and what to do with your 401(k) when switching jobs. Also read about business website mistakes and tips on how to build an emergency fund.

When does a tax benefit not become a tax benefit? When you assume you no longer need to keep track of something. This is the case with the home gain exclusion.

All too often taxpayers take action that will cost them dearly when they file their tax return. With a little planning, however, the IRS can still receive its fair share but not a dollar more. Here's what you need to know.

Did your paycheck seem a little higher? If so, it could be a tax time bomb.

If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Tuesday, September 15th.

Because our tax system is progressive, the next dollar you earn could be taxed at a much higher rate. By shifting taxable income levels from one year to the next, you could potentially pay a lower tax amount in both. Here are six great ideas.

September Newsletter and Important Dates to Remember.

Providing a gift of stock (or other property) to a friend or loved one can be a powerful tax planning tool. However, it is not without its complications.

As states create tax laws to capture revenue from non-resident individuals and small businesses, many are caught unaware of the changing state tax landscape. Make sure this doesn't happen to you.

Identity theft is reaching all-time levels. How can you protect your Social Security number from being stolen?