5 Things You May Think Hurt Your Credit Score — but Don’t

There are a multitude of things you can do to damage your credit score. Anything from renting a car to cutting up a credit card has the potential to affect your credit to some degree, depending on your situation. But there are also some areas that surprisingly do not affect your score, despite what is commonly [...]

Tips to Help Organizations Understand the Tax-Exempt Application Process

The following article was published by the IRS. Organizations that want to apply for tax-exempt status under Section 501(c)(3) of the tax code use a Form 1023-series application. Here are some things organizations should know to help them understand the process: The application must be complete. It must also include the user fee. The application process [...]

How to Refinance Your Home Loan

If you are a homeowner, you probably have a mortgage. Mortgages are typically the largest loan a person has, or ever will have. This means that the rate you pay on your loan matters. While mortgage rates have risen slightly, they are still historically low. So should you refinance to lock in a lower [...]

2019-06-24T16:35:56-04:00June 24th, 2019|Categories: Uncategorized|

Recent Developments That May Affect Your Tax Situation

The following is a summary of important tax developments that occurred in October, November, and December of 2018 that may affect you, your family, your investments, and your livelihood. Business meals. One of the provisions of the Tax Cuts and Jobs Act (TCJA) disallows a deduction for any item with respect to an activity that is [...]

Tax Reform Affects If and How Taxpayers Itemize their Deductions

The following article was published by the IRS. Tax reform that affects both individuals and businesses was enacted in December 2017. It’s commonly referred to as the Tax Cuts and Jobs Act, TCJA or simply tax reform. In addition to nearly doubling standard deductions, TCJA changed several itemized deductions that can be claimed on Schedule A, [...]