Financial Harmony Tax Resolution

04/10/2025

Wishing you a good tax season! Remember an extension and/ or help is an option if it's too stressful.

08/22/2024

First Email Out Of MailChimp -

____ / ___M ]__ C{ ( o o )} { •• \___ ––––´ You probably found this page because one of our subscribers used Mailchimp to send you an email campaign and you traced a link in the email back here to investigate. Mailchimp is a marketing platform that serves millions of companies of all sh...

02/21/2023

Are you considering buying an electric vehicle in 2023? The rules have recently changed, due to the passage of the Inflation Reduction Act of 2022 (the “Act”) in the summer of 2022. This bill included a range of new tax rules addressing various areas, and one of its significant goals was to address climate change and jump-start clean energy production.

In our latest blog article, we specifically cover the portion of the bill that includes updates to the electric vehicle credits available. Click here for instant access! Let us know if you have any questions or concerns.
https://bit.ly/3lf2qyh

02/20/2023

As you know, big tax breaks were enacted for the 2021 tax year, but most of those tax law changes expired at the end of 2021. As a result, the Child Tax Credit, Child and Dependent Care Credit, Earned Income Credit, and other popular tax breaks are different for the 2022 tax year than they were for 2021. The Inflation Reduction Act might impact your 2022 tax return, too.

Other 2022 tweaks are the result of new rules or annual inflation adjustments. Still, no matter how, when, or why the changes were made, they can hurt or help your bottom line—so you need to be ready for them.

Contact us today to learn more.
https://bit.ly/3zvxfBg

02/17/2023

Did you know that there is now a choice for tax professionals who need to make changes to a tax return that has already been filed with the IRS?

You’re likely already familiar with the amended tax return. An amended return is filed subsequent to the originally filed or superseding return, and after the due date (including extensions).

We’re pleased to introduce you to the superseding return: A superseding return is a revision of an originally-filed return that is submitted within the current filing period (before that return’s due date, including extensions).
A superseding return “supersedes” (replaces) the original return rather than amending it.

Interested in learning more? Click here for full details.
https://bit.ly/3JIqAew

02/16/2023

Despite stock market losses, investors may get year-end mutual fund payouts, which could trigger a surprise tax bill.

Typically, mutual fund payouts happen once per year, by mid-December, after funds announce estimates in late October or early November. However, investors may reduce capital gains through tax-loss harvesting, or using losses to offset profits.

For full details, don’t hesitate to reach out to us.
https://bit.ly/3zvxfBg

02/15/2023

The IRS said it is adjusting many of its rules to account for the impact of inflation, ranging from individual income tax brackets for 2023 to the standard deduction. The changes could mean tax savings for some taxpayers.

The higher limits are aimed at avoiding "bracket creep" due to inflation, which can push workers who received annual cost-of-living pay increases into higher tax brackets even though their standard of living hasn't changed.

The IRS makes such adjustments annually, but this year's hot inflation means that many of the changes are more significant than in a typical year. To learn more about these adjustments, send us a message.
https://bit.ly/3zvxfBg

02/15/2023

02/14/2023

If all goes well this tax season, you won’t owe anything, and you might even be getting back a nice refund. But, what should you do if you owe money? If you know you owe money to the IRS, you might be tempted to not file a return, but that is the worst thing you can do!

If you fail to file on time, the IRS will come after you until you do. Worse yet, the tax agency can assess up to 25 percent just in late filing penalties. Plus, interest will start piling up right away. Instead of not filing, there are specific steps you should take if you owe money to the IRS.

For your convenience, we’ve outlined these steps in our latest blog article. Click here for instant access.
https://bit.ly/3GMaA9t

02/13/2023

Happy Monday!

Don’t forget . . . To be the best, you must be able to handle the worst.

02/10/2023

Paying taxes is a fact of life, but when the amount is excessive, you may not have the funds to pay in full. Making a mistake on your taxes can be costly as well, and if you plug in the wrong numbers, the IRS will surely come calling.

Whether you owe money to the IRS due to an innocent oversight, a lack of funds, or something else, ignoring the problem will not make it go away.

So, what should you do if you owe back taxes? Don’t miss our latest blog article to find out!
https://bit.ly/3GKT59p