Savvy Savings: Essential Tax-Saving Strategies for this Filing Season
If tax law had seasons, 2025 would be the calm stretch before the forecast changes. But several of the rules that have shaped returns for…
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A Smooth Start to 2026: Tax Planning Without the Panic
Welcome to 2026: the year you finally organize your tax documents before the last week of March. Every January brings a fresh chance to reset…
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Smart Tax Moves for Homeowners: Deductions to Know Before the Year Ends
Buying a home comes with plenty of decisions: paint colors, repairs, figuring out where the mysteriously slow Wi-Fi signal disappears. But as 2025 wraps up…
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Year-End Checklist: Get the Most from Your FSA in 2025
Before the year wraps up, take a closer look at your Flexible Spending Account (FSA). Whether you’re planning ahead or trying to make the most…
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The Myth of the “Self Employment Tax Credit”
In this article we’re focusing on another top tax scam on the IRS’s 2025 Dirty Dozen: the so-called Self Employment Tax Credit, which is a…
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Protective Claims: Preserving Your Ability to Deduct Prior Year 280E Expenses
For cannabis businesses grappling with the heavy tax burden of Section 280E, the IRS recently made its position crystal clear: don’t try to sidestep it…
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Too Good to Be True: The Truth About Fuel Tax Credit Scams
When Scams Go Off-Road (Literally) Welcome back, savvy taxpayers! We’re rolling into No. 5 on the IRS’s annual Dirty Dozen list: the infamous False Fuel Tax…
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Filing Last-Minute Taxes? Here’s How to Save—and Stay Sane
We’re in the final stretch of tax season. If you haven’t filed yet, you’re not alone. The IRS says about 25% of Americans wait until…
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Educators, Time is Ticking: Claim Up to $300 for Supplies Before October 15, 2024
Get Tax Relief for Out-of-Pocket Expenses Teachers are pros at multitasking—lesson planning, classroom decorating, and, of course, stocking up on supplies out of their own…
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Can You Deduct Business Travel Expenses? Here’s the Latest
Traveling for business? Don’t miss out on potential tax savings. Understanding the current rules for deducting out-of-town business expenses is key to maximizing your tax…
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Unlock Hidden Tax Savings with Your Home Office Computer – Learn How
Ever thought your trusty new home office computer could do more than just handle Zoom calls and spreadsheets? What if it could also help you…
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Renting to Relatives: 5 Tax Tips Every Homeowner Should Know
Renting a home to a family member can be a practical solution for both parties involved, but it comes with unique tax considerations. Whether you…
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The Newlywed Tax Guide: Steps to Take After Saying “I Do”
Wedding cake? Check. Honeymoon? Unforgettable. First tax season as a married couple? Uh-oh. Fear not, lovebirds, this guide has got you covered. Let’s turn those…
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From Cradles to Credits: Unraveling Tax Perks for Proud New Parents
Welcoming a new baby into your family is like embarking on an adventure filled with firsts: the first smile, the first word, and, yes, even…
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Green Incentives Unpacked: A Straightforward Guide to Your Energy Tax Breaks
Curious about the buzz around tax breaks for eco-friendly upgrades to your home or vehicle? The Inflation Reduction Act of 2022 (IRA) rolls out numerous…
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Smart Tax Moves: How to Save More When Filing Your Taxes
As the time to file your 2023 tax returns inches closer, it’s crucial to arm yourself with strategies that can save you money. Whether you’re…
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Innovative Giving: Exploring the Flexibility of Donor-Advised Funds
Secure Your Tax Benefit Now and Guide Charitable Efforts Tomorrow Making a large charitable donation can be both a generous gesture and a strategic financial…
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Tax Saving Strategies for Nature Lovers: Conservation Easements and You
Interested in helping to conserve land for public use or preserve an historic structure from real property that you own? If you feel a deep…
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529 Plans Unveiled: Your Path to Tax-Free Education Savings
When it comes to securing a quality education, the costs can sometimes feel overwhelming. That’s where 529 plans shine as beacons of financial relief. These…
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Renting Your Vacation Home? Here’s What You Need to Know About Taxes
Does it make sense to rent out your vacation home for part of the year? How does it impact your tax deductions? Are you contemplating…
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Summer Moves and Taxes: Unlocking the IRS Exclusion for Home Sellers
Summer is “moving season” for many people, as they sell one home and move to another. As the warm weather beckons, individuals and families seize…
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Summer Fun and Tax Breaks: Deducting Day Camp Costs Under the Child and Dependent Care Credit
As the summer season approaches, many parents struggle with childcare, and day camps can be a lifesaver. Did you know that some of these expenses…
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2023 Tax Scams (Part 2): How to Protect Yourself from Fraudsters
With tax refund season in full swing, it’s important to be cautious and aware of potential scams. Scammers are always looking for ways to steal…
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How Smith Patrick CPAs Is Guiding Missouri’s Cannabis Entrepreneurs through the Tax Maze
The Missouri cannabis industry is growing, and Amendment 3 has brought new tax deductions for marijuana businesses. Smith Patrick CPAs, a cannabis-focused CPA firm, is…
