Summer is finally starting to come to an end and as we careen towards Labor Day and kids going back to school, you might be missing out on some hidden tax gems that can save you money … if you know where to look.
As experts in taxes and all the accompanying “stuff” that comes from having to talk to people about the intimate details of their spending habits, the team and I see a ton of bad habits in a lot of places. It’s ironic that so many small business owners understand the failure rates of small businesses, yet often don’t show the financial discipline to ensure their own success. With that in mind, we’re going to cover some places that entrepreneurs can save money each month – often quite a bit.
What are the latest scams floating out there? How do you know if the notices that you've been receiving from the IRS are real? What should you do if they are real?
The Internal Revenue Service has issued a warning that tax-related scams continue across the nation even though the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims.“We continue to urge people to watch out for new and evolving schemes this summer,” said IRS Commissioner John Koskinen. “Many of these are variations of a theme, involving fictitious tax bills and demands to pay by purchasing and transferring information involving a gift card or iTunes card. Taxpayers can avoid these and other tricky financial scams by taking a few minutes to review the tell-tale signs of these schemes.”