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October 4, 2022

Investing in the future with a 529 education plan

529 Saving Plan, Prepaid Tuition Plans, Qualified Tuition Program /

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named for the Internal Revenue Code section that provides for them, allow prepayment of higher education costs on a tax-favored basis. There are two types of […]

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Worried about an IRS audit? Prepare in advance

Business Audit, Documentation, Inflation Reduction Act, IRS Audit, Small Business, Tax Return /

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report , but that’s little consolation if your return is among those selected to be examined. Plus, the IRS recently received additional funding in the Inflation Reduction Act to improve customer service, upgrade technology and increase audits of high-income taxpayers. But

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