by The Foncannon Team | Jan 27, 2025 | Uncategorized
Did you know that when you sell your home, you may be able to exclude up to $250,000 of your gain from taxes if you’re unmarried (or married, filing separately) and up to $500,000 if you’re married and file jointly? Eligibility for the Exclusion To claim...
by The Foncannon Team | Jan 23, 2025 | Uncategorized
Did you miss your last estimated quarterly payment? If so, it can result in non-deductible penalties. To avoid these, make sure to use IRS Direct Pay or EFTPS—both secure and convenient methods. Key Points to Keep in Mind Due Dates: For the 2024 tax year, payments...
by The Foncannon Team | Dec 29, 2024 | Uncategorized
As 2024 comes to an end, business owners should consider these two key questions: Are you in need of a replacement business vehicle—be it a car, SUV, van, or pickup truck? Do you want to take advantage of tax deductions and credits before the year ends? If you...
by The Foncannon Team | Dec 27, 2024 | Uncategorized
This guide will help you legally reduce your tax liability and, in some cases, even get the IRS to owe you money. While a direct payment from the IRS is unlikely, you can realize significant savings by lowering your taxable income. Below are six actionable business...
by The Foncannon Team | Oct 31, 2024 | Uncategorized
Can you believe Thanksgiving is just around the corner? The holiday season will be here in a blink of an eye, and there is no better time to show gratitude to your employees and customers. However, knowing what should be considered a business deduction for holiday...
by The Foncannon Team | Oct 30, 2024 | Uncategorized
Following Hurricanes Milton and Helene, the IRS is urging taxpayers to stay vigilant against scammers posing as charitable organizations to steal personal and financial information from unsuspecting donors. Fake charities often appear after natural disasters and other...
