by The Foncannon Team | Apr 30, 2025 | Uncategorized
As disaster preparation season approaches with National Wildfire Awareness Month in May and Hurricane Preparedness Week (May 4-10), the IRS urges taxpayers to safeguard critical financial and tax information before emergencies hit. With tax filing season behind us,...
by The Foncannon Team | Apr 30, 2025 | Uncategorized
Missing a quarterly estimated tax payment deadline can be expensive. With the IRS charging a 7 percent penalty for underpayments—and these penalties being non-deductible—the effective cost can feel more like 11 percent for many taxpayers. Fortunately, there’s a...
by The Foncannon Team | Mar 26, 2025 | Uncategorized
Filing your taxes is just the first step—knowing when your refund will arrive is often the more pressing concern for many taxpayers. With millions of Americans now submitting their 2024 tax returns, understanding how to track your refund efficiently can save you time...
by The Foncannon Team | Mar 25, 2025 | Uncategorized
Each year, the IRS releases its Dirty Dozen list to warn taxpayers, businesses, and tax professionals about common tax scams. These schemes put personal and financial information at risk, often leading to identity theft and fraudulent tax filings. While many scams...
by The Foncannon Team | Feb 27, 2025 | Uncategorized
If you’re a member of a multi-member LLC taxed as a partnership (as most are) or a traditional partnership, you may occasionally pay for business expenses out of pocket. These expenses—ranging from travel and meals to car expenses, continuing education, professional...
by The Foncannon Team | Feb 25, 2025 | Uncategorized
One of the most common questions business owners have is how to pay themselves properly. The right method depends on your business structure, and choosing the correct approach can impact your taxes and compliance. Here’s a quick guide to help you navigate this...
