by Exclusive Tax Services | Jul 1, 2020 | Blog
Hobby Income If you have income from sources other than your main job, how do you know whether it’s income from a business or hobby? The distinction between the two makes a big difference in your taxes. Look at the following nine factors when making the determination....
by Exclusive Tax Services | Jun 1, 2020 | Blog
Mid-Year Tax Checkup As you complete your tax return this year, are you surprised by the amount of your balance due or refund? Many people are unpleasantly surprised by the balance due. How can you prepare so that tax time is, if not pleasant, at least less painful?...
by Exclusive Tax Services | May 1, 2020 | Blog
CARES Act Brings Relief to Individual Taxpayers The recently passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided relief to taxpayers in a number of ways. The due dates to file and pay income taxes have been extended to July 15, 2020....
by Exclusive Tax Services | Apr 1, 2020 | Blog
Tax Notes The IRS advised that high deductible health plans (HDHPs) can cover the costs for testing and treatment of COVID-19 without losing their status as an HDHP. As we all deal with the pandemic, keep informed by checking the IRS website for updates. Important...
by Exclusive Tax Services | Mar 1, 2020 | Blog
Do You Have a Balance Due? If planned correctly, tax time shouldn’t have to be unpleasant. I can help you with that. If you wind up with a balance due, however, you have several options to pay your tax debt. Pay the balance due. If you can pay either directly or via...
