Tax season is now well underway. While you’re gathering your materials, or feeling relieved that your tax return is now filed, take a moment to review this month’s articles. Included are tips on common mistakes to avoid in your retirement accounts, a list of common IRS tax scams, ideas to improve your credit score and a handy tip to ensure inherited property does not turn into a tax problem.
Please feel free to forward this newsletter onto others who may need tax advice.
IRS Announces Annual Tax Scams
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Each year the IRS announces “Dirty Dozen Tax Scams” they encounter regarding frivolous tax arguments and fraud. While six of the “scams” are related to, “don’t cheat we have our eyes on you,” the other six are scams that all of us should be on guard to detect.
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Inherited Property: A Matter of Value
Avoid this potential tax headache |
| If you are expecting to inherit property when friends or relatives pass away, know that their generosity can come with tax consequences. It’s important to understand how the value of your inheritance is determined in order to avoid a potential tax surprise in the future.
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The Right Ingredients to Improve Your Credit Score
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Your credit score is important. It dictates how easy it is to obtain a loan for a car, house, or business acquistion. Your score is expressed as a number that ranges between 300 and 850 points. The closer you are to 850 points, the more likely you are to receive a loan and the less you’ll pay in interest. So, how is your credit score calculated and how can you improve it?
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Seven Common Retirement Account Mistakes
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| It is all too easy to make a mistake that can cost you plenty if you do not actively manage your retirement assets. Here are some common retirement account mistakes that can easily be avoided.
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As always, should you have any questions or concerns regarding your situation please feel free to call.
