New Legacy Business Solutions, Inc.

05/26/2022

If you discover that you forgot something on your tax return, you can amend that return after it has been filed. If you are amending for a refund, you should be aware that most refunds will not be paid for returns if the three-year statute of limitations from the filing due date has expired.

If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can include a number of issues:

05/25/2022

What happens if your spouse turns out to be a tax cheat, and you signed a joint tax return without realizing it. Can you be held responsible? Learn more.

05/25/2022

Wednesday Wisdom from your friends at New Legacy Business Solutions

05/24/2022

When was the last time you or your attorney reviewed or updated your will or trust? Revised tax laws and life's ever-changing circumstances make estate planning an ongoing process. Did you divorce or marry? Have or adopt kids? Has your spouse or any of your named beneficiaries passed away? Keeping your will or trust up to date will ensure that your money and assets don't end up in the wrong hands.

When was the last time you or your attorney reviewed or updated your will or trust? If it was some time ago before the passage of substantial tax law changes over the past few years, your documents may be out of date. Among the many changes was a substantial revision to the estate tax exclusion.

05/23/2022

Looking for a sign? Here's your Monday Motivation from Laurel based New Legacy Business Solutions

05/21/2022

Let�s keep the weekend rolling. from New Legacy Business Solutions

05/20/2022

Getting a hold of your medical practice's cash flow situation may be difficult, but it certainly isn't impossible - provided that you're able to keep a few key tips and tricks in mind.

Getting a hold of your medical practice’s cash flow situation may be difficult, but it certainly isn’t impossible – provided that you’re able to keep a few key tips and tricks in mind.

05/20/2022

Your Friday tax fact from Laurel based New Legacy Business Solutions.

05/19/2022

If you're a business owner who has been through a recession before, you know that smart cash flow management is absolutely crucial.

If you’re a business owner who has been through a recession before, you know that smart cash flow management is absolutely crucial.

05/18/2022

Some Wednesday Wisdom from your friends at Laurel based New Legacy Business Solutions

05/17/2022

Whether a specific tax law applies to you, or your dependent may hinge on your or the dependent's age. Sometimes reaching a certain age provides a tax benefit, while in other cases once a specific birthday is celebrated there's a tax "penalty" - meaning that a specific type of income becomes taxable, or credit no longer applies. Most of these age-related tax rules concern dependent children or retirement.

When Congress enacts tax laws, many times whether the law applies is based on the age of the taxpayer or a taxpayer’s dependent. Reaching a certain age sometimes provides a tax benefit, while in other cases there’s a tax “penalty” – meaning that a specific type of income becomes taxable, o...