Kenneth Athon Tax Strategies – Treating every client and every tax issue with dignity, respect and confidentiality

What is a Strong Password?

Regarding the security of your online accounts and personal data, you've probably heard experts recommend using strong passwords. But what is a strong password? A strong password is one that…

Full Disclosure

It bears repeating that anything unique about your family, your child, your job, may have a bearing on your taxes. Notify your preparer regarding the following. Family events and changes,…

A Client Asks Why His Refund Is Not Larger

Question: It is crazy how little I'm getting back on my taxes … why is that? Answer: Except for people who work -- and less than the poverty level (as…

A Federal Court suspends Beneficial Ownership Information (BOI) reporting

I previously notified business clients that, starting 2024, new federal government regulations - known as BOI reporting - requires businesses to disclose their owners or partners. However, in a surprising…

IRS audits to target use of business aircraft for personal purposes

03/05/202402/28/2024

Some of the hinderances to IRS audits of high income taxpayers and corporations are: taxpayer use of complex income shifting; personal use of corporate assets; business expenses to personally benefit…

When Indiana taxpayers owe a balance that they cannot pay in full …

… the IRS has an automatic approval for an installment payment plan under certain conditions. This payment plan can be requested when the federal income tax return is filed (either…

A better way to make electronic copies of tax documents

Despite the fact that some smart phones are very sophisticated, submitting an ordinary pic from your phone is not the best way to capture a tax document for your tax…

2024 Disaster Relief

02/08/202402/08/2024

The April 2024 federal income tax filing deadline for taxpayers in certain disaster areas within Maine, Rhode Island, Connecticut, Tennessee and West Virginia, is extended until June 17, 2024. Those…

2024 Standard Mileage Rates

The Internal Revenue Service (IRS) has announced the standard mileage rates for the year 2024. The following table summarizes the optional standard mileage rates for employees, self-employed individuals, or other…

College financial aid via FAFSA is getting some tweaks

08/13/202308/13/2023

If you have student-dependents that use the FAFSA form to apply for college financial aid, you might find this update helpful, from the widely-read tax blogger, Kay Bell.