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Seven Best Ways to Avoid Being Audited by the IRS

Tax season can be a source of stress for many individuals and businesses, particularly with the looming possibility of an audit by the IRS. While audits are relatively rare, knowing how to minimize the risk is essential for peace of mind. Here are seven effective strategies to help you avoid being audited. 1. File Your […]

Understanding the Often Missed Home Energy Efficiency Credit

As the world increasingly focuses on sustainability and energy conservation, homeowners are presented with an opportunity to not only reduce their carbon footprint but also save money through various incentives. One such incentive is the Home Energy Efficiency Credit, a tax credit designed to encourage homeowners to invest in energy-efficient upgrades. This blog post will […]

Understanding the 1099-C: Taxability and Implications

The 1099-C, also known as the “Cancellation of Debt” form, is an essential document for both taxpayers and the Internal Revenue Service (IRS). It is issued by lenders to report the cancellation of a debt of $600 or more. This can occur in various situations, such as foreclosure on a property, the cancellation of a […]