Toney’s Tax Tips

An Enrolled Agent with over 30 years' experience providing common-sense tax, insurance and financial solutions. Married for over 45 years, having raised two sons, both married to girls named Carla. Go figure.

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Saturday, December 10, 2016

TFX Blog | IRS Advice to Those with Expiring ITINs: Apply Now to Avoid Refund Delays; Agency Offers Tips on Avoiding Common Errors

itin-pic

TFX Blog | IRS Advice to Those with Expiring ITINs: Apply Now to Avoid Refund Delays; Agency Offers Tips on Avoiding Common Errors
Posted by Mark Toney at 1:20 PM No comments:
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Child Tax Credit 101 [Video] | TurboTax


Child Tax Credit 101 [Video] | TurboTax
Posted by Mark Toney at 1:13 PM No comments:
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Child Tax Credit 101 [Video] | TurboTax



Child Tax Credit 101 [Video] | TurboTax
Posted by Mark Toney at 1:13 PM No comments:
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TFX Blog | 2017 Tax Filing Season Begins Jan. 23 for Nation’s Taxpayers, Tax Returns Due April 18



TFX Blog | 2017 Tax Filing Season Begins Jan. 23 for Nation’s Taxpayers, Tax Returns Due April 18
Posted by Mark Toney at 1:08 PM No comments:
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Friday, October 28, 2016

Bamboozled: Scammers use Obamacare confusion to target new victims | NJ.com

IRS Form 1095 Relating to Health Insurance

Bamboozled: Scammers use Obamacare confusion to target new victims | NJ.com
Posted by Mark Toney at 11:53 AM No comments:
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Wednesday, October 26, 2016

IRS Announces Changes to 2017 Income Tax Deductions, Credits, and Other Tax Benefits | CPA Practice Advisor

IRS Announces Changes to 2017 Income Tax Deductions, Credits, and Other Tax Benefits | CPA Practice Advisor
Posted by Mark Toney at 3:55 PM No comments:
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How to Determine My Federal Income Tax Rate If I’m Self-Employed | Turbo Tax



How to Determine My Federal Income Tax Rate If I’m Self-Employed |Turbo Tax
Posted by Mark Toney at 3:12 PM No comments:
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Wednesday, October 19, 2016

Tax Implications of Getting Married | Turbo Tax



Tax Implications of Getting Married | Turbo Tax
Posted by Mark Toney at 10:49 AM No comments:
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Understand The Differences of Your IRA Options | Bankrate.com

Couple walking their dog outside © CandyBox Images/Shutterstock.com

Understand The Differences of Your IRA Options | Bankrate.com
Posted by Mark Toney at 10:27 AM No comments:
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Friday, September 30, 2016

Projected 2017 Income Tax Rates and Brackets | CPA Practice Advisor


Projected 2017 Income Tax Rates and Brackets | CPA Practice Advisor
Posted by Mark Toney at 9:49 AM No comments:
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How to Get Tax Credits for College | CPA Practice Advisor


How to Get Tax Credits for College | CPA Practice Advisor
Posted by Mark Toney at 9:38 AM No comments:
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5 Ways To Use Your IRA To Reduce Risk in Retirement | Bankrate.com

5 ways to use your IRA to reduce retirement risk © spass/Shutterstock.com

5 Ways To Use Your IRA To Reduce Risk in Retirement | Bankrate.com
Posted by Mark Toney at 9:29 AM No comments:
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Wednesday, September 21, 2016

7 Mistakes To Avoid When Reclassifying Employees | CPA Practice Advisor

employee classification complying with fair labor standards act 1  568d5a687dffa

7 Mistakes To Avoid When Reclassifying Employees | CPA Practice Advisor
Posted by Mark Toney at 10:03 AM No comments:
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Monday, September 19, 2016

IRS Failed to Alert Victims of Employment-Related Identity Theft - Accounting Web

identity theft
IRS Failed to Alert Victims of Employment-Related Identity Theft - Accounting Web
Posted by Mark Toney at 11:07 PM No comments:
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1031 Exchange Rules Every Real Estate Investor Should Know - Fox News

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1031 Exchange Rules Every Real Estate Investor Should Know - Fox News
Posted by Mark Toney at 10:58 PM No comments:
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Friday, September 16, 2016

Fighting Tax Related ID Fraud With Your Cell Phone, One Selfie At A Time - Forbes


Fighting Tax Related ID Fraud With Your Cell Phone, One Selfie At A Time - Forbes
Posted by Mark Toney at 11:14 AM No comments:
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4 Tax Tips for Small Business Owners | CPA Practice Advisor

Tax Tips for Schedule C Filers 1  54986ceb23dc8
4 Tax Tips for Small Business Owners | CPA Practice Advisor
Posted by Mark Toney at 11:07 AM No comments:
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Tuesday, September 13, 2016

Is It a Business or an Expensive Hobby? - WSJ

Even for tax scholars, it can often prove highly taxing to figure out the difference between a legitimate business that is devoted to making a profit and a venture that isn’t.
Is It a Business or an Expensive Hobby? - WSJ
Posted by Mark Toney at 1:35 PM No comments:
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Thursday, September 8, 2016

IRS Eases Rules for IRA Rollover Waivers | CPA Practice Advisor

IRS Eases Rules for IRA Rollover Waivers | CPA Practice Advisor
Posted by Mark Toney at 10:46 PM No comments:
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Friday, September 2, 2016

IRS Video Warns Tax Pros of Cyber Security Threats -CPA Practice Advisor

IRS Video Warns Tax Pros of Cyber Security Threats -CPA Practice Advisor
Posted by Mark Toney at 1:19 PM No comments:
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IRS urges taxpayers to check their withholding -KGWN


IRS urges taxpayers to check their withholding -KGWN
Posted by Mark Toney at 1:16 PM No comments:
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Thursday, September 1, 2016

IRS Says Some Tax Refunds Will Be Delayed Next Year, Offers Tips -CPA Practice Advisor

IRS Says Some Tax Refunds Will Be Delayed Next Year, Offers Tips -CPA Practice Advisor
Posted by Mark Toney at 12:11 PM No comments:
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Monday, June 27, 2016

Tax Time for Foreign Accounts: FBARs Due June 30 - CPA Practice Advisor


http://www.cpapracticeadvisor.com/news/12223257/tax-time-for-foreign-accounts-fbars-due-june-30

Tax Time for Foreign Accounts: FBARs Due June 30 - CPA Practice Advisor
Posted by Mark Toney at 11:34 AM No comments:
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IRS Expands Electric Vehicle Tax Credit to 30 Cars, Including 3 Porsche Models - CPA Practice Advisor

2015 porsche 918 spyder first te 1  576ada785bf11

IRS Expands Electric Vehicle Tax Credit to 30 Cars, Including 3 Porsche Models - CPA Practice Advisor
Posted by Mark Toney at 10:56 AM No comments:
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How Does Your Vacation Home Affect Your Taxes? - TurboTax

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How Does Your Vacation Home Affect Your Taxes? - TurboTax
Posted by Mark Toney at 10:50 AM No comments:
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Friday, June 10, 2016

Tax-related identity theft can delay your refund - CNN Money



Tax-related identity theft can delay your refund - CNN Money
Posted by Mark Toney at 11:16 AM No comments:
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6 Steps to Cutting Your Taxes When You Start Taking RMDs - Kiplinger



6 Steps to Cutting Your Taxes When You Start Taking RMDs - Kiplinger
Posted by Mark Toney at 10:46 AM No comments:
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Tuesday, May 31, 2016

IRS Warns of Latest Scam Variation Involving Bogus “Federal Student Tax” - Expat Tax Blog

taxscammay2016
IRS Warnes of Latest Scam Variation Involving Bogus "Federal Student Tax" - Expat Tax Blog
Posted by Mark Toney at 9:48 AM No comments:
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5 Steps Small Businesses Must Take To Prepare for New Overtime Pay Rules - CPA Practice Advisor

overtime payroll 1  5745c1c1f1eae

5 Steps Small Businesses Must Take To Prepare for New Overtime Pay Rules - CPA Practice Advisor
Posted by Mark Toney at 9:41 AM No comments:
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Tuesday, May 24, 2016

How Well Do You Know Social Security? - Kiplinger



How Well Do You Know Social Security? - Kiplinger
Posted by Mark Toney at 11:36 AM No comments:
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Tax Filing Deadlines for Expats, FBAR Coming Up | CPA Practice Advisor



Tax Filing Deadlines for Expats, FBAR Coming Up | CPA Practice Advisor
Posted by Mark Toney at 10:16 AM No comments:
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Wednesday, May 18, 2016

Forget Money: How The World Paid Taxes in the Past - TurboTax

Ancient artwork of taxes
Forget Money: How The World Paid Taxes in the Past -TurboTax
Posted by Mark Toney at 2:40 PM No comments:
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Tuesday, May 17, 2016

How Tax Scam Victims Can Clear Their Names With the IRS -- The Motley Fool

Hacker In Hoodie Identity Theft Cyber Security

How Tax Scam Victims Can Clear Their Names With the IRS -- The Motley Fool
Posted by Mark Toney at 12:08 PM No comments:
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Thursday, May 12, 2016

Bamboozled: The IRS doesn't accept iTunes gift cards as payment for overdue taxes -NJ.com

 Apple iTunes, Best Buy
Bamboozled: The IRS doesn't accept iTunes gift cards as payment for overdue taxes - NJ.com
Posted by Mark Toney at 1:06 PM No comments:
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Tuesday, May 10, 2016

Six Ways to Reduce Your Taxable Income - TurboTax

 0509-Blog-2
Six Ways to Reduce Your Taxable Income - TurboTax
Posted by Mark Toney at 12:41 PM No comments:
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How to Calculate the Taxable Amount of an IRA Withdrawal - CPA Practice Advisor

 ROTH IRA 1  555b6c7a46820
How to Calculate the Taxable Amount of an IRA Withdrawal - CPA Practice Advisor
Posted by Mark Toney at 12:32 PM No comments:
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Monday, May 9, 2016

Taking Selfies to Fight Taxpayer Identity Theft - Accounting Today

Taking Selfies to Fight Taxpayer Identity Theft - Accounting Today
Posted by Mark Toney at 9:50 AM No comments:
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Thursday, May 5, 2016

Tax Season Remains Open For Many Tax Exempt Organizations - Forbes


Tax Season Remains Open For Many Tax Exempt Organizations - Forbes
Posted by Mark Toney at 10:28 AM No comments:
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Tax Tips and Tricks for Veterans - Huffington Post

Image result for tax tips for veterans
Tax Tips and Tricks for Veterans - Huffington Post
Posted by Mark Toney at 10:22 AM No comments:
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Tuesday, May 3, 2016

Michael Jackson Estate Faces Billion-Dollar Tax Court Battle - The Hollywood Reporter

 How much was the King of Pop's name and image worth when he died? The estate says $2,105, but the IRS insists its value is more than $434 million. "This is bizarre," says the estate's lead attorney, Howard Weitzman.  
Michael Jackson Estate Faces Billion-Dollar Tax Court Battle - The Hollywood Reporter
Posted by Mark Toney at 2:45 PM No comments:
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Are Your Political Campaign Contributions Tax Deductible? - TurboTax

 0430-Blog
Are Your Political Campaign Contributions Tax Deductible? - TurboTax
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Thursday, April 28, 2016

How to track down your IRS refund check - 9WCPO

 http://www.wcpo.com/news/national/how-to-track-down-your-irs-refund-check
How to track down your IRS refund check - 9WCPO
Posted by Mark Toney at 10:49 AM No comments:
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Tuesday, April 26, 2016

Tax Files: Which Ones to Throw Out, Which Ones to Keep - Kiplinger

 http://www.kiplinger.com/article/taxes/T055-C001-S003-spring-cleaning-for-your-tax-files.html
Tax Files: Which Ones to Throw Out, Which Ones to Keep - Kiplinger
Posted by Mark Toney at 4:48 PM No comments:
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Monday, April 25, 2016

Bill Would Simplify Income Tax Filing | CPA Practice Advisor

Bill Would Simplify Income Tax Filing | CPA Practice Advisor
Posted by Mark Toney at 9:13 PM No comments:
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Sunday, April 24, 2016

Where Do You Rank as a Taxpayer? -Kiplinger


Where Do You Rank as a Taxpayer? - Kiplinger
Posted by Mark Toney at 11:15 PM No comments:
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Friday, April 22, 2016

Rolling Over Retirement Savings to a Health Savings Account - Kiplinger

Rolling Over Retirement Savings to a Health Savings Account - Kiplinger
Posted by Mark Toney at 12:17 PM No comments:
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Thursday, April 21, 2016

How your federal income tax dollars are spent - CNN Money

where your 2015 income tax dollar went
How your federal income tax dollars are spent - CNN Money
Posted by Mark Toney at 4:47 PM No comments:
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Wednesday, April 20, 2016

A Real-Life Tax Scam: This Is What IRS Phone Fraud Sounds Like - NPR

A real-life tax scam: This is what IRS phone fraud sounds like.
A Real-Life Tax Scam: This Is What IRS Phone Fraud Sounds Like - NPR
Posted by Mark Toney at 2:28 PM No comments:
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Friday, March 25, 2016

Daily Tax Tips March 2016 - Don't Mess With Taxes

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Daily Tax Tips March 2016 - Don't Mess With Taxes
Posted by Mark Toney at 9:39 AM No comments:
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Tuesday, March 15, 2016

What To Do Now If You Can’t Pay Your Taxes in April | Equifax Finance Blog

What To Do Now If You Can’t Pay Your Taxes in April
What To Do Now If You Can’t Pay Your Taxes in April | Equifax Finance Blog
Posted by Mark Toney at 5:19 PM No comments:
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Friday, March 11, 2016

27 Companies That Paid No Taxes - The Big Picture


27 Companies That Paid No Taxes - The Big Picture
Posted by Mark Toney at 1:19 PM No comments:
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      • TFX Blog | IRS Advice to Those with Expiring ITINs...
      • Child Tax Credit 101 [Video] | TurboTax
      • Child Tax Credit 101 [Video] | TurboTax
      • TFX Blog | 2017 Tax Filing Season Begins Jan. 23 f...
    • ►  October (5)
      • Bamboozled: Scammers use Obamacare confusion to ta...
      • IRS Announces Changes to 2017 Income Tax Deduction...
      • How to Determine My Federal Income Tax Rate If I’m...
      • Tax Implications of Getting Married | Turbo Tax
      • Understand The Differences of Your IRA Options | B...
    • ►  September (13)
      • Projected 2017 Income Tax Rates and Brackets | CPA...
      • How to Get Tax Credits for College | CPA Practice ...
      • 5 Ways To Use Your IRA To Reduce Risk in Retiremen...
      • 7 Mistakes To Avoid When Reclassifying Employees |...
      • IRS Failed to Alert Victims of Employment-Related ...
      • 1031 Exchange Rules Every Real Estate Investor Sho...
      • Fighting Tax Related ID Fraud With Your Cell Phone...
      • 4 Tax Tips for Small Business Owners | CPA Practic...
      • Is It a Business or an Expensive Hobby? - WSJ
      • IRS Eases Rules for IRA Rollover Waivers | CPA Pra...
      • IRS Video Warns Tax Pros of Cyber Security Threats...
      • IRS urges taxpayers to check their withholding -KGWN
      • IRS Says Some Tax Refunds Will Be Delayed Next Yea...
    • ►  June (5)
      • Tax Time for Foreign Accounts: FBARs Due June 30 -...
      • IRS Expands Electric Vehicle Tax Credit to 30 Cars...
      • How Does Your Vacation Home Affect Your Taxes? - T...
      • Tax-related identity theft can delay your refund -...
      • 6 Steps to Cutting Your Taxes When You Start Takin...
    • ►  May (14)
      • IRS Warns of Latest Scam Variation Involving Bogus...
      • 5 Steps Small Businesses Must Take To Prepare for ...
      • How Well Do You Know Social Security? - Kiplinger
      • Tax Filing Deadlines for Expats, FBAR Coming Up | ...
      • Forget Money: How The World Paid Taxes in the Past...
      • How Tax Scam Victims Can Clear Their Names With th...
      • Bamboozled: The IRS doesn't accept iTunes gift car...
      • Six Ways to Reduce Your Taxable Income - TurboTax
      • How to Calculate the Taxable Amount of an IRA With...
      • Taking Selfies to Fight Taxpayer Identity Theft - ...
      • Tax Season Remains Open For Many Tax Exempt Organi...
      • Tax Tips and Tricks for Veterans - Huffington Post
      • Michael Jackson Estate Faces Billion-Dollar Tax Co...
      • Are Your Political Campaign Contributions Tax Dedu...
    • ►  April (7)
      • How to track down your IRS refund check - 9WCPO
      • Tax Files: Which Ones to Throw Out, Which Ones to ...
      • Bill Would Simplify Income Tax Filing | CPA Practi...
      • Where Do You Rank as a Taxpayer? -Kiplinger
      • Rolling Over Retirement Savings to a Health Saving...
      • How your federal income tax dollars are spent - CN...
      • A Real-Life Tax Scam: This Is What IRS Phone Fraud...
    • ►  March (9)
      • Daily Tax Tips March 2016 - Don't Mess With Taxes
      • What To Do Now If You Can’t Pay Your Taxes in Apri...
      • 27 Companies That Paid No Taxes - The Big Picture
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Editor's note

We struggle with important tax, insurance and financial problems and make what we hope are informed decisions. Afterwards, we stumble upon an article that indicates the common sense solution was something we never even knew was available. It can make you sick. “If only I had known this ahead of time!" I’ve chosen articles and stories of interest to myself and my clients. I hope you will find the information interesting, practical and helpful.

Disclaimer (aka "the boring stuf")

The content on this site is for informational purposes only, and it may not be relied on for the purpose of avoiding any federal tax penalties. This website is purely a public resource of general information which is intended, but not promised or guaranteed, to be correct, complete, and up to date. The content should not be viewed as actual tax, insurance and/or financial advice, and is not representative of a client relationship. You are encouraged to seek tax, insurance, or financial advice from an independent financial advisor.

Mark Toney is an Accredited Tax Advisor® (ATA) and Enrolled Agent (EA) tax professional federally licensed in all 50 states. Mark Toney is also an insurance agent licensed in Georgia, North Carolina, South Carolina, and Ohio. If you are not a resident of the states listed above, all insurance and investment-related information on this site is for informational purposes only and does not constitute a solicitation or offer to sell securities or insurance services over the internet.
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