by HintonBurdick | Mar 1, 2021 | News
In general, income from the rental of a vacation home for 15 days or longer must be reported on your tax return on Schedule E, Supplemental Income and Loss. You should also keep in mind that the definition of a “vacation home” is not limited to a house....
by HintonBurdick | Mar 1, 2021 | News
Although just 0.15 percent of taxpayers were audited in 2019, the fear of being audited is never far from many taxpayer’s minds, and with the taxes becoming more complicated every year, there’s an even greater possibility of confusion turning into a tax...
by HintonBurdick | Feb 11, 2021 | News, Tax
Perhaps you’ve recently heard the news. Though the federal government determined in late December that forgiven PPP loan funds were nontaxable, the State of Utah recently announced that such forgiven PPP funds are taxable income for Utah taxation purposes....
by HintonBurdick | Feb 4, 2021 | Uncategorized
It goes without saying at this point that the entirety of 2020 was pretty rough on most of us. However, there was an unexpected surge in start-ups in the midst of the pandemic. This means more small business owners and more opportunities to make financial mistakes. If...
by HintonBurdick | Feb 1, 2021 | News
The earned income tax credit can give qualifying workers with low-to-moderate income a substantial financial boost. The credit not only reduces the amount of tax someone owes but may give them a refund even if they don’t owe any taxes or aren’t required to...
