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Your Weekly Tax Tip
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Sonoran Consulting & Finance, LLC
http://www.sonoranconsultingfinance.com
Phone: 480-692-7923
Browsing Recent Tax Tips
Back to current: Understanding Tax Terms: AFRs
Oops! I Wish I Knew That.
There are a few areas within the tax code that can cause an unpleasant surprise when encountered. Thankfully they do not happen too often. Here are six you should know about.
Category: The Audit
Published: 02/12/2021
IRS Identity Theft Program NOW OPEN!
New one-time use PIN option available for all
After a long pilot program, the IRS is making its identity theft PIN program available to all taxpayers. Here is what you need to know.
Category: What's New
Published: 02/05/2021
Alert: Look for New 1099 NEC
Your 1099's are coming soon
So many 1099's. How do you keep them all straight? Here is a quick review of the most common 1099's to help you prepare to file your tax return.
Category: Your Income
Published: 01/29/2021
IRS Identity Theft Season Begins Now
Be on your guard as the IRS identity theft season starts in late January. Here's what you need to know.
Category: Miscellaneous
Published: 01/22/2021
Are You a Contractor or Employee?
Knowing the difference is very important
A recent voter initiative in California overrules the state's desire to make all Uber and Lyft drivers employees. This puts a spotlight on all workers to know the difference.
Category: Miscellaneous
Published: 01/15/2021
Reminder: Fourth Quarter Estimated Taxes Now Due
Now is the time to make your estimated tax payment
Plan now to make your 4th quarter estimated tax payment.
Category: Miscellaneous
Published: 01/08/2021
2021 Mileage Rates are Here!
New mileage rates announced by the IRS
Here are the standard mileage rates for 2021.
Category: What's New
Published: 01/01/2021
Your Home. A Bundle of Tax Benefits.
Are you capturing all the tax benefits built into homeownership? Here are the most common.
Category: Deductions
Published: 12/25/2020
Gone Phishing?
Unlike fishing, phishing has no limits and can hurt anyone it touches. As one of the top 12 IRS tax scams, you do not want to take this bait. Here is what you need to know.
Category: Miscellaneous
Published: 12/18/2020
Plan Your 2021 Retirement Contributions
With the setting of contribution limits to qualified retirement plans for 2021, now is a good time to plan for your upcoming retirement contributions.
Category: Planning
Published: 12/11/2020
15 Year-End Tax Tips
Here are 15 ideas that may reduce your tax bite for this year. But act soon as the year-end is fast approaching.
Category: Planning
Published: 12/04/2020
Age (not death!) and Taxes
Age does matter, when it comes to tax obligations
The tax code is filled with age triggers. Some are beneficial, while others can create a tax increase surprise. Outlined here are some of the important age triggers everyone should know.
Category: Planning
Published: 11/27/2020
Lower Your Taxes THIS YEAR!
Here are 6 ideas that most people can use
As Congress debates tax law changes, and we watch the give and take like its a bad soap opera the clock keeps ticking towards the end of the tax year. So what can you do? Here are some time tested tax reduction ideas.
Category: Planning
Published: 11/20/2020
IRS Releases Key 2021 Tax Information
Looking to plan ahead? Here are initial figures from the IRS regarding the upcoming, 2021 tax year.
Category: What's New
Published: 11/13/2020
Tips to Organize Your Tax Records
Creating order out of chaos
Looking for some ideas to make filing your taxes less cumbersome? Here are some tips.
Category: Miscellaneous
Published: 11/06/2020
Tax Savings for Non-Itemizers
Can't itemize? There are still tax breaks for you
If you own a home you probably itemize your deductions on your tax return. But what if you do not itemize? Can someone using the standard deduction still get a tax break?
Category: Deductions
Published: 10/30/2020