Opine Financial Advisors

10/05/2025

10/03/2025

07/05/2023

Are free miles on credit cards taxable? Do I really need to report my gifts to the IRS? You'd be surprised. Here are some answers.

As the temperatures reach the highs that come with summer, so too is the peak impact of inflation. As in past months, topics continue to focus on ways to fight these trends. One of the topics covered is the ever increasing property tax burden and how to increase the odds of getting yours lowered. Th...

06/07/2023

You should never face an IRS audit alone. Here's why. Plus great ideas for summer tax breaks.

Summertime offers unique tax and money saving opportunities for the whole family. In this month’s newsletter, find out how day camps for your kids may be tax deductible, if you know the rules! And summer is a time when household expenses creep up, so there is an article identifying common caus...

03/24/2023

The gift tax is one of the most misunderstood provisions in the tax code. Here is what you need to know.

Presenting a gift to a grandchild does not normally have us thinking about the taxes. However, if not careful the over generous gift giver could end up with a surprise tax bill and a note from the IRS.

03/17/2023

The IRS is hiring more auditors. So who are they going to target? The small business owners. Here are some tips.

Often the #1 target of IRS audits, sole proprietors need to be prepared with good records. Here are some tips.

03/10/2023

High income disparity between spouses is one of the most common situations victimized by the marriage penalty. Tax planning can help you reduce the impact on your tax bill.

Whether you're changing your filing status in 2022 because of marriage, divorce or another event (or it's staying the same), understanding how the marriage penalty works is key for your tax planning.

03/03/2023

Deciding between a traditional or Roth IRA? The traditional IRA provides short-term tax savings, but a Roth IRA might be better for the long-term.

Deciding between a traditional or Roth IRA can be confusing, but one thing is clear - Roth IRAs are subject to fewer IRS rules and restrictions, giving you more flexibility while still providing some great tax savings.

03/01/2023

New tax rules mean changes for how you save for retirement. Read how these rules affect you. And those with small businesses should know about this potential looming $800+ penalty!

Recent legislation is taking a broad sweep at retirement accounts. While many of the rule changes are implemented over a number of years, some of them are important to know about right away. Summarized in this issue are some of the more important provisions. With the pending flow-through filing dead...

02/24/2023

Caregivers can get help from three federal tax breaks: the medical expense deduction, the child and dependent care credit, and the "family" credit.

If you've ever had to care for a sick, elderly or disabled person, you know it can be difficult financially as well as emotionally. A recent study found that many caregivers are forced to make financial sacrifices, including delaying retirement, in order to help their loved ones.

02/17/2023

Rejected tax return? You need to understand what steps to take...

If an e-filed tax return is rejected by the IRS what should you do? Here are some of the more common causes for rejected tax returns and what you can do about it.

02/10/2023

The best defense against a tax audit? Stop the clock. Here is what you need to know.

Your tax return can be audited forever, but only if you do not file the return. By knowing the statute of limitations for a tax audit, you can be better prepared to reduce the risk of having a prior year tax return reviewed.