News & Tips - Augustedge, PLLC

Breaking News: The IRS Has Just Updated Their Position Related to Denying or Paying Employee Retention Credit (ERC) Claims

Article Highlights: IRS's Current Position on ERC Claims High-Risk Claims Medium-Risk Claims Low-Risk Claims Availability of a Voluntary Withdrawal Program Businesses with Unprocessed Claims Businesses with Uncashed Refund Checks Businesses with Concerns About Claim Validity How to Withdraw an ERC Claim The Employee Retention Credit (ERC) was introduced as a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to [...]

By Augustedge Staff|2024-08-01T18:00:28+00:00August 5, 2024|Taxes|Comments Off

Essential Tax and Financial Planning Strategies for Boomers and Gen Xers Approaching Retirement

As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a comfortable and secure future. This article outlines essential tax and financial planning strategies tailored to the unique needs of individuals nearing retirement. By understanding and implementing these strategies, you can navigate the complexities of retirement planning with confidence. Understanding Retirement Goals Before diving into specific strategies, it's important to [...]

By Augustedge Staff|2024-08-01T17:53:08+00:00August 2, 2024|Financial Planning|Comments Off

Boost Your Income: How Renting Your Vacation Home Can Maximize Your Earnings and Minimize Your Taxes

Article Highlights: Definition of a Dwelling Unit The Augusta Rule Personal Use Days Taxpayer Uses It Over 10% of the Rental Days Definition of Rental Days Definition of Personal-Use Days Fix-Up Days Allocating Expenses Short-Term Rentals Room Rentals Renting to a Relative Fair Rental Value Owning a dwelling unit that is used as a vacation home can be a dream come true, offering a [...]

By Augustedge Staff|2024-08-01T17:48:58+00:00August 1, 2024|Taxes|Comments Off

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