In Memory: Stanley H. Block (1932-2025). His legacy and guidance will continue through our service to clients.
Many taxpayers wince when they think about paying and filing their taxes, but there’s one area of taxes that won’t make you cringe: deductions! Most of us would like to pay less in taxes, and claiming deductions is one way to do just that. Let’s examine some of the most easily missed tax deductions and […]
Assignment of income allows you to assign part of your income directly to another person. While there are several valid reasons to assign your income to someone else, many taxpayers mistakenly believe that it can help lower their taxable income. While assignment of income allows you to divert income, you cannot divert taxes. In this […]
Tax identity theft is a growing concern. In 2018, tax fraud ranked second for the most frequent type of identity theft — only behind credit card fraud. The IRS is always working to improve security and minimize tax identity theft cases. Last holiday season, the IRS warned taxpayers that the increase in shoppers makes December […]
Recently, a grand jury indicted former Mayor Catherine Pugh in federal court on 11 different counts, three of which were tax crimes: one count of conspiracy to defraud the United States and two counts of tax evasion. Within days, she pled guilty to four charges. At S.H. Block Tax Services, we believe there are valuable […]
Federal tax laws are continually changing, and it’s becoming harder to optimize your tax return. While recent tax changes have eliminated some of the breaks and deductions available to taxpayers, there are still ways you can legally reduce your tax obligation. In this article, we’ll discuss five tips for lowering your 2019 tax bill and […]
If you are self-employed, and travel away from home on business, you can deduct certain expenses, like meals or lodging, that you ordinarily could not. If you have employees who travel, and you reimburse them for travel expenses like food and incidentals (e.g., you can also use the per diem rates so long as you […]
The deadline to submit your fourth quarter estimated tax payment is due on January 15. If you’re worried about forgetting the deadline amid the hustle and bustle of the holiday season, you can schedule your estimate tax payments in advance. In this blog, we discuss how paying estimated quarterly taxes ahead of the deadline can […]
For many individuals and companies, taxes are something you only worry about in March and April as you rush to file and cross your fingers for a large return. If this sounds familiar, it’s time to look into year-long tax planning. Tax-planning is the practice of considering how your taxes affect your overall financial situation […]
If you’ve been wrongly accused of tax fraud or tax identity theft, you’re not alone. The IRS has been cracking down on tax scams, and while their efforts have drastically decreased instances of legitimate fraud, they’ve also managed to accidentally catch innocent taxpayers in their web. Keep reading to learn more about IRS efforts to […]
Receiving any notification from the IRS can be stressful, but receiving a notice that you’re being audited is enough to make anyone panic. The IRS conducts audits for any number of reasons — and not necessarily because you have done anything wrong. However, even if you are sure that you have nothing to worry about, […]
