Willis & Jurasek

08/27/2024

Don't forget to complete your Beneficial Ownership Information Report! More information below.

www.willispc.com

07/26/2024

Is your personal information secure? It should be, per the federal government. Here is what you need to know.

Personally Identifiable Information, or (PII), is in the spotlight at the IRS and FTC. You should know what it means and how it applies to you and the protection of your tax information. Here are some thoughts.

07/19/2024

Keeping a good record keeping system is essential to your audit defense plan. Start now to avoid having to track down old receipts during an audit.

Separating truth from fiction about IRS audits is an important exercise for everyone. Here are 5 audit myths that, if believed, can cost you.

07/12/2024

Is your activity a hobby or a business? You might be surprised by the tax savings in your future if you get this one right.

Turning your hobby into a business can get you a big tax benefit if you do it right - or a big tax headache if you do it wrong.

07/05/2024

Selling stock at a loss? Know the wash sale rule before you do.

If selling a stock or mutual fund to book a loss for your tax return, the wash sale rules are worth knowing. For the unaware, this rule could cost you a loss deduction.

07/03/2024

Learn why you should partner with a tax expert if the IRS comes knocking. Also, how retiring early is catching on FIRE, tips to avoid the summertime tax blues, and ideas to tame summer energy costs.

Responding to a letter from the IRS isn’t a weekend do-it-yourself project that you should attempt to tackle on your own. In this month’s newsletter, learn why you should partner with a tax expert if you receive either a notification saying the IRS will be auditing you, or a notice that...

06/28/2024

Make these common tax mistakes and you will pay more in taxes. Read to learn more.

Every year thousands of taxpayers go through a gotcha with the IRS thanks to large, unexpected tax bills. Here are five common causes of tax surprises, ranging from lost refunds to retirement plan mistakes.

06/21/2024

Traits of scams can help you discover them before becoming a victim.

There are scams everywhere and unfortunately the IRS is one of the biggest tools to put on a scam. Here are some clues a scam is about to be done to you.

06/14/2024

Summer activities for the kids can be deductible, but only if you follow the rules.

The Child and Dependent Care Credit can be used to offset summer time care expenses for your qualifying dependents. These expenses don't just include sending your kids to daycare while you work. Here is what you need to know.

06/07/2024

Reminder: Second quarter estimated taxes are due Thursday, June 15th.

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

06/05/2024

A tax planning session might help to lower your taxes if you find yourself in one of these situations. Also read about ideas to unplug this summer, and preparing financially to buy your next vehicle.

No matter what season of life you find yourself in, the IRS will probably find a way to tax it. In this month’s newsletter, read through several situations where a tax planning session might make sense to help you try and cut your 2024 tax bill. Also learn how to prepare yourself financially w...

05/31/2024

Tax rates are scheduled to go up in 2026. Now might be a cost-effective way to use a Roth IRA or Roth 401(k).

Roth IRA or Traditional IRA? The answer is never easy, but perhaps asking the right questions can make your decision easier. Here are some thoughts.