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Category Archives: Taxation
What you should know about crowdfunding and taxes
Crowdfunding is a popular way to raise money online. People often use crowdfunding to fundraise for a business, for charity, or for gifts. It’s important to know that money raised through crowdfunding may be taxable. Some money raised through crowdfunding … Continue reading
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New school year reminder to educators: maximum educator expense deduction rises to $300 in 2022
As the new school year begins, the Internal Revenue Service reminds teachers and other educators that they’ll be able to deduct up to $300 of out-of-pocket classroom expenses for 2022 when they file their federal income tax return next year. … Continue reading
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From markers to face masks, classroom supplies may be tax deductible
Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful. The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. … Continue reading
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Former Overland Park businessman sentenced for employment tax fraud
According to court documents and statements that were made in court, starting in 2010, Lance Ashley was the sole owner and operator of Ashley Home Care Services, a home health care business providing daily living services. Ashley was responsible for … Continue reading
Posted in Fraud, Taxation
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People without a filing requirement may miss out on a refund if they don’t file a 2021 tax return
Some people may choose not to file a tax return because they didn’t earn enough money to be required to file but may miss getting a refund if they don’t file. While the filing deadline is October 17, 2022 to … Continue reading
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What taxpayers need to know about business related travel deductions
Business travel can be costly. Hotel bills, airfare or train tickets, cab fare, public transportation – it can all add up fast. The good news is business travelers may be able off-set some of those cost by claiming business travel … Continue reading
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Year-round tax planning: All taxpayers should understand eligibility for credits and deductions
Tax credits and deductions can help lower the amount of tax owed. All taxpayers should begin planning now to take advantage of the credits and deductions they are eligible for when they file their 2022 federal income tax return next … Continue reading
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Gov. Parson signs law exempting World Cup tickets from sales tax
Missouri Governor Mike Parson recently signed a bill that will reduce the cost of World Cup tickets when the soccer tournament comes to Kansas City in 2026. The bill exempts tickets for the FIFA World Cup games from sales tax. … Continue reading
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An overview of the IRS’s 2022 Dirty Dozen tax scams
Compiled annually, the Dirty Dozen lists a variety of common scams that taxpayers can encounter anytime. The IRS warns taxpayers, tax professionals and financial institutions to beware of these scams. This year’s list is divided into five groups. Here’s an … Continue reading
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Here are some things gig economy workers should know about their tax responsibilities
Many people take up gig work on a part-time or full-time basis, often through a digital platform like an app or website. Gig work, such driving a car for booked rides, selling goods online, renting out property, or providing other … Continue reading
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