The Crosslin team at this morning's Big Brother Big Sisters of Middle Tennessee breakfast. We always enjoy sponsoring this incredible event/organization!
Summer wedding season has arrived! A taxpayer’s marital status as of December 31 determines their tax filing options for the entire year, but that’s not all newlyweds need to know. Newlyweds Tax Checklist - Crosslin (crosslinpc.com)
Builders of energy efficient homes may qualify for a valuable tax credit
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Hobbies and businesses are treated differently when it comes to filing taxes.
Is your side hustle a hobby or a business? – Crosslin (crosslinpc.com)
While summer is fun, some summer activities could have a tax impact. Below are a few summertime activities/tips provided by the IRS on how taxpayers should consider them for filing season.
Activities That Could Affect Next Year’s Tax Return – Crosslin (crosslinpc.com)
Crosslin had the pleasure of hosting a local high school junior for her five-day “interim” program. She selected Crosslin as she is great with numbers, loves math, and is considering accounting as a career option. Here she summarizes her experience:
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Join Principal Rhonda Sides at the TSCPA Forensic and Valuation Services Conference, October 25-27 in Brentwood. Rhonda serves as chair of this conference committee and is excited about how technical and practical this conference will be. Sign up today! youtu.be/NuDO8M05Cug
Tax credits and deductions can help lower the amount of tax owed. It is important to begin planning now to take advantage of the credits and deductions they are eligible for when you file your 2022 federal income tax return next year.
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Businesses should begin planning now to take advantage of tax benefits available to them when filing its 2022 federal income tax return. This includes the enhanced business meal deduction.
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A hobby is any activity that a person pursues because they enjoy it and with no intention of making a profit. People operate a business with the intention of making a profit. Determining if that hobby has grown into a business can be confusing.
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The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process. crosslinpc.com/why-it-may-ta…
Crosslin was proud to sponsor last week’s Tennessee Government Finance Officers Association (TGFOA) conference. Our team members always enjoy attending this event and seeing friends from across the state.
The 2021 Chamber Education Report was presented today at the Nashville Public Library. Crosslin’s Wendy Burch served on the Education Report Committee. To read the report, click here:
issuu.com/.../2021_education…. To read the Tennessean story, click here:
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For those working in the service industry, tips are often a vital part of their income. Like most forms of income, tips are taxable. Therefore, it’s also vital that people understand the tax obligations that come with tip income.
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Each tax season comes with unique challenges and 2022 is no exception. The IRS wants taxpayers to get the information they need as quickly as possible. Taxpayers should keep these tips in mind when they get ready to file.
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As the 2022 filing season begins, taxpayers are encouraged to file electronically when they are ready and choose direct deposit to get their refund. Direct deposit is the safest and most convenient way to receive a tax refund.
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The home office deduction allows qualified taxpayers to deduct certain home expenses when they file taxes.
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Taxpayers who adopted or started the adoption process in 2021 may qualify for the adoption credit. This credit can be applied to international, domestic private, and public foster care adoption.
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Whether it’s a full-time job or just a side hustle, taxpayers must report gig economy earnings on their tax return. Understanding how gig work can affect taxes may sound complicated but, it doesn’t have to be.
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It is important to be informed about topics related to filing your federal tax returns in 2022. These topics include special steps related to charitable contributions, economic impact payments and advance child tax credit payments.
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