Good Stewards Bookkeeping & Tax

01/23/2024

Were back!!

09/08/2023

Reminder: 3Q estimated taxes are due Friday, September 15. Here are some things to consider.

If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Friday, September 15th.

09/06/2023

With rising interest rates, the art of 0% financing is making a comeback. But buyer beware! Here is what you need to know.

With interest rates continuing to increase, what could be better than making a purchase with 0% interest? In reality, financing a purchase with a 0% interest rate may be more trouble than it’s worth, as we explain in this month’s newsletter. Also discover the hidden tax benefits of ownin...

09/01/2023

Understanding unearned income can be a great benefit in reducing your taxable income, but only if you understand what it is.

What's in a name? If it is defining different types of income, it can mean more income tax obligations. Here are some things to know.

08/25/2023

Oops. You donated too much to your IRA. What do you do. Follow these tips.

The IRS is beginning to tackle the problem of taxpayers contributing too much to their IRA accounts each year. Here is what you need to know.

08/18/2023

Here's a tip to avoid unwanted tax penalties.

Here is a simple idea to avoid late payment penalties if you miss a quarterly estimated tax payment (form 1040 ES). While it might not apply to everyone, it could save you some money come tax time.

08/11/2023

The only group happier than you when you a win a prize is the IRS. Most prizes are taxable. Make sure you fully understand the value of the prize and how it's taxed before you accept it.

Prizes received are to be recorded on your tax return as income. Unfortunately, there are many pitfalls. Here are some tips.

08/04/2023

Be prepared. The moto of the boy scouts AND your motto when in comes to an IRS audit. Here's what to do.

Too often during the course of an audit, the auditor throws out valid deductions. Not because they did not occur, but soley because you did not provide adequate documentation. Here are tips to help solve this problem.

08/02/2023

A tax planning session may be a good idea if you find yourself in these 3 situations. Also read about mastering your credit card & tips to lower your car insurance.

Preventing unwanted tax surprises starts with proper planning. And there’s no better time than now to begin looking at how you can cut next year’s tax bill. In this month’s newsletter, we’ve included several situations when it makes sense to schedule a tax review so you can t...

07/28/2023

The IRS is eliminating most unannounced revenue officer visits. This is what that means for you.

The IRS recently announced a major policy change that it will end most unannounced agency revenue officer visits to taxpayers. Here are the details.

07/21/2023

To amend or not amend. That is the question...and the answer is not always obvious. Read on.

Filing an amended federal tax return is never fun. Sometimes it is necessary. But not always. Here are some thoughts on the subject.

07/14/2023

Zero tax when selling a stock for a gain? Please tell me more!

Think all your stock sales will be subject to capital gains tax? Think again. With proper planning some of your gains may not be taxed at the federal level. Here is what you need to know.