Phoenix Financial

25/02/2026

Your calls are now in expert hands! We’ve got a new number and a smart receptionist ready to set you up for success. Call today and feel the difference!

24/10/2024

IRS releases the NEW inflation tax brackets for 2025. Subscribe to ClearValue Tax for daily financial updates.

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16/10/2024

Question:
What happens if I miss the October extension filing deadline?

Answer:
If you owe taxes, missing the deadline could result in a late-filing penalty from the IRS. This penalty is 5% of the amount owed for each month (or part of a month) your return is late, up to a maximum of 25%. However, if you’re due a refund, there’s no penalty, and nothing happens. It’s always best to file on time, but if you’re getting money back, you have more flexibility!

07/05/2024

📣 Tax Season Tip: Post-Tax Edition! 📣

Now that tax season is officially behind us, it's time to kick back, relax, and reflect on our financial journey. Here are a few post-tax season tips to keep in mind:

✅ Review Your Return: Take a moment to review your tax return for any errors or discrepancies. It's always good to double-check and make note of anything you might want to adjust for next year.

🗂 Organize Your Documents: Start organizing your financial documents for the upcoming year. Creating a system now can save you time and stress when tax season rolls around again.

💰 Plan Your Refund: If you received a tax refund, think about how you want to use it. Whether it's paying off debt, saving for a vacation, or investing in your future, make a plan that aligns with your financial goals.

📚 Stay Informed: Keep yourself informed about any changes to tax laws or regulations that might affect you in the future. Knowledge is power when it comes to managing your finances.

Remember, taxes may be over for now, but it's never too early to start preparing for next year. Cheers to financial wellness! 🌟 📊💼

18/03/2024

Tip: Filing with a tax professional is typically beneficial for individuals with complex financial situations, such as owning a business, having multiple sources of income, investments, rental properties, or significant deductions and credits. Tax professionals can provide personalized advice, ensure accuracy, and help maximize deductions.

On the other hand, free tax filing websites are suitable for individuals with simpler tax situations, such as those who earn income from a single job, have straightforward deductions, and don't own businesses or have complex investments. These platforms offer user-friendly interfaces and guidance to help users navigate the tax filing process without the need for professional assistance.

At Phoenix Financial, our mission is to educate, guide, and empower our clients in optimizing their tax savings, fostering long-lasting relationships, while positively impacting their financial future.

08/12/2023

Keeping you informed: IRS ends unannounced revenue office visits to taxpayers

The IRS announced a major policy change that will end unannounced visits to taxpayers by agency revenue officers to reduce public confusion and increase overall safety. The change reverses a decades-long practice by IRS Revenue Officers, the unarmed agency employees whose duties included visiting households and businesses to collect unpaid taxes. Effective immediately, the unscheduled visits will end except in a few unique circumstances.

07/12/2023

Stay in the know... 2023 Tax Inflation Adjustments

The IRS announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.

If you have questions about how these changes will affect you, call or text (469) 807-1040 to schedule your free consultation.

IR-2022-182, October 18, 2022 — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments.

01/02/2023

Say goodbye to tax season stress for you and your family. Call or text to get started on your Tax Preparation. 469-807-1040

17/10/2022

The extension deadline is here

Some tips to help you:

There is no penalty for filing a late return after the tax deadline if a refund is due. If you didn't file and owe tax, file a return as soon as you can and pay as much as possible to reduce penalties and interest.

The Failure to File Penalty is 5% of the unpaid taxes for each month or part of a month that a tax return is late. The penalty won't exceed 25% of your unpaid taxes. This does not include interest.