So many people were happy they did not have to do the paperwork to itemize their deductions because of the increase of the federal standard deduction; not itemizing the deductions may cost you taxes on the Minnesota side! Legislation was passed for the State of
Read moreIf you **NEED** equipment or supplies buy them before the end of the year and you may be able to deduct the full amount in 2018! Notice that I said need, because it does not make sense to buy equipment that you do not need
Read moreWith the end of the year there are some other opportunities to consider for saving for your children and also saving on your taxes! Consider a 529 College Savings Plan for your child! This became tax **deductible** in the State of Minnesota in 2017 and
Read more**Maybe** is always the answer! The personal exemption of $4,050 per person reducing taxable income is **gone**. The **good news** is that the Child Tax Credit has increase from **$1,000 – $2,000** for children under 17 years old! Did you have too much Adjustable Taxable
Read moreThe new “The Tax Cuts and Jobs Act of 2017 (TCJA)” is offering a potential huge tax savings benefit for many small business owners, however it is important that you understand you have to **_qualify_** for this deduction. One of the requirements is that you
Read moreIRS Scams are the hottest topic on television and the internet. It seems that everyone has a huge fear of “IRS” because it has put away some of the most well know people in the country like Al Capone, Martha Stewart, Willie Nelson… This fear
Read moreSaturday hours have begun! Come drop off your tax information or call and set up an appointment! ](/__l5e/assets-v1/ab4e2d64-ce7d-4d8c-a830-bd34b45469d7/10959426_894882847229444_2323055872885401204_n.jpg)
Read moreTime to get your taxes done! Are you looking for a new accountant? Come on in and bring this certificate with you for $20 off your 2014 tax return preparation.
Read moreWith January comes the beginning of tax season for us at Genesis Financial and Tax Solutions. The IRS will begin accepting tax returns electronically on January 20, 2015 and we have started mailing out our tax organizers. Time to start getting your tax documentation together!
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