Foncannon Tax & Financial Services blog page
IRS Identity Protection PIN: What it is and why it’s important
In an ongoing effort to bolster security measures, the Internal Revenue Service (IRS) and their partners from the Security Summit initiative are reminding taxpayers about the opportunity to enhance their protection against identity theft during the 2024 tax...
Quarterly tax payments: four facts small business owners should know
With the deadline to make final 2023 quarterly estimated tax payments just around the corner (January 16), here are four facts you should know to avoid possible penalties : 1. Who needs to make a payment? Taxpayers who receive income that is not subject to tax...
Last Minute Vehicle Deductions for 2023
Here’s an easy question: Do you need more 2023 tax deductions? If the answer is yes, continue reading. 2023 Last-Minute Vehicle Purchases to Save on Taxes Next easy question: do you need a replacement business vehicle? If so, you can simultaneously solve or mitigate...
5 Tips to Reduce Tax-Filing Stress: Prepare for Next Season Now
Now that tax season is behind us, it's never too early to start planning for the next filing season. By taking proactive steps and implementing a few simple strategies, you can reduce tax-filing stress and ensure a smoother process. In this blog post, we will share...
How Long Should I Keep My Tax Records?
Now that the tax season is over (unless you file an extension), it's the perfect time to organize your tax-related documents. It's best to keep these documents for at least three years after the due date of your tax return (the IRS usually has this much time to...
4 Common Federal Tax Refund Myths Debunked
Are you eagerly awaiting your tax return? Curious about the status of your refund? This year, there are a number of misconceptions surrounding refunds that may be confusing. Below, are four of the most common federal tax refund myths: Myth #1: Calling the IRS, a tax...
Maximizing Your Tax Savings: What You Need to Know About Business Travel Deductions.
With the ever-changing landscape of taxes, navigating small business tax deductions can feel overwhelming. But when it comes to business travel expenses, there are certain tax breaks you should be aware of to help streamline your filing process and maximize your...
3 Reasons Why Your Tax Return Should Be Direct Deposited
As tax season approaches, there are many decisions to make that will impact how quickly you can receive your tax return. One of the most important, and often overlooked factors, is deciding how you want to get paid when filing your taxes – pay by check or direct...
Thank you!
Thank you for voting for us! This past Thursday, we were voted 'Best Accountant' in the Evansville’s best of the best Reader’s Choice Awards! We are thankful for your support and for our amazing team members who are the backbone of Foncannon CPA group. Happy...