Home Sale Taxes Explained: How Tax Basis Impacts What You Pay
With home prices continuing to rise, many homeowners are thinking about the tax implications of selling their property. One critical concept that often gets overlooked…
With home prices continuing to rise, many homeowners are thinking about the tax implications of selling their property. One critical concept that often gets overlooked…
Traveling abroad for work? If you’re planning a business trip overseas, understanding the tax rules can help you maximize deductions and avoid unnecessary expenses. From…
529 plans have long been a trusted tool for saving for education expenses, offering tax advantages and flexibility for families. Now, with a recent rule…
Selling gifted property can have unexpected tax implications, and understanding these rules is crucial to avoid surprises. Your tax liability hinges on the property’s basis—a…
As we say goodbye to 2024, it’s time to get serious about tax planning. Major life events, new laws, and investment opportunities all play a…
With holiday season just around the corner, while most of us are busy trying to maximize deals on Black Friday, scammers are busy trying to…
Imagine opening your mailbox to find that someone’s already filed your tax return—and it wasn’t you! Tax-related identity theft is a real problem, but the…
Smith Patrick’s Debra Annis Honored by St. Louis Small Business Monthly in the 2024 Best Accountants List Debra J. Annis, CPA, has once again earned…
Missouri’s marijuana tax system is making headlines for its consumer-friendly structure. In an article published on MoCannTrade.org, the website of the Missouri Cannabis Trade Association,…
Crowdfunding Success: When the IRS Comes Knocking Crowdfunding can feel like modern-day magic—just a few clicks, and suddenly you’re swimming in donations from friends, family,…
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…
If you’re a non-resident of St. Louis who had earnings tax withheld between 2020 and 2023, and you worked outside the city—whether through telework or…
With just a few weeks remaining until the September 30 deadline, time is running out for St. Louis remote workers to claim their earnings tax…
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…
At Smith Patrick CPAs, we’re not just looking for another accountant—we’re looking for you. Located in the heart of Webster Groves, a charming slice of…
Paying for education might feel like trying to empty the ocean with a teaspoon, but there’s a bright spot on the horizon: education tax credits….
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…
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…
In an era marked by rising taxes and the pinch of inflation, St. Louis remote workers have a chance to reclaim a significant amount of…
Selling your home can be both exciting and daunting, especially when you start thinking about taxes. With summer being prime time for moving, let’s dive…
Hey St. Louisians, if you worked from home during the pandemic, you might be in for a pleasant surprise. A recent Missouri Court of Appeals…
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…
Everyone loves a good tax break. It’s natural to look for ways to save on taxes, especially when it involves significant transactions like property sales….
Summer is here, bringing sunshine, beach trips, and—surprisingly—tax considerations! As you enjoy the sunshine and plan your activities, remember that certain summer choices—from saying ‘I…