USTaxAid

The Dreaded IRS Letter: You Have 10 Days to Respond

Diane Kennedy — Sat, 28 Jun 2025 21:00:40 +0000

A few weeks ago, I got a call from a client in full panic mode. She’d just received a letter from the IRS that gave her 10 days to respond. It wasn’t the usual soft notice or vague inquiry. It was precise, sharp, and had all the signs of something new. In fact, I believe […]

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How One Smart Tax Strategy Saved Over $100,000 Even When the “Free Answer” Was Dead Wrong

Diane Kennedy — Sat, 28 Jun 2025 20:06:08 +0000

Let’s start with the $100K question: Can I sell a rental and buy a primary residence—paying no tax? A married couple recently asked me this. They thought it was an easy yes-or-no. But like most tax questions, the real answer is: “It depends.” So let’s ask it the right way: “Can we sell our rental, […]

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How Real Estate Built My Firm

Diane Kennedy — Sat, 28 Jun 2025 18:35:33 +0000

When I launched my CPA practice over 30 years ago, I took a leap of faith. I left behind a stable job and a reliable paycheck, stepping into the unknown. But I didn’t jump empty-handed. I had something most people don’t realize is a powerful business partner: real estate The Safety Net That Let Me […]

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Capital Gains Exclusion on Your Home Sale: What Really Matters

Diane Kennedy — Sat, 28 Jun 2025 18:20:08 +0000

When Richard and I were first married, and before we adopted David as a teenager, we used to move every 2 ½ years. The plan was simple: buy a fixer-upper or outdated home, fix it up, and sell it – tax free. We could make up to $250,000 per year tax free with that plan. […]

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Is AI Making Us Stupider? Or Are We Just Asking the Wrong Questions?

Diane Kennedy — Sat, 21 Jun 2025 15:16:13 +0000

A new MIT study is making the rounds complete with brain scans and bold claims: Participants who used AI tools like ChatGPT thought less deeply, retained less information, and produced more formulaic work. And now the headlines practically write themselves: “ChatGPT is making us dumb.” But what did the study really show? It didn’t prove […]

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What to Do When the IRS Comes Knocking: A Calm, Smart Guide to Notices and Audits

Diane Kennedy — Tue, 10 Jun 2025 07:49:47 +0000

A new consultation client recently uploaded documents for me to review. It all looked straightforward, until I saw the IRS notice dated mid-April 2025. Two things jumped out: First, I knew exactly what kind of audit the IRS was positioning them for. Second, I realized the headlines were wrong. Despite what you might hear, […]

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AI is Changing IRS Audits: Is Your Recordkeeping Ready?

Diane Kennedy — Tue, 10 Jun 2025 07:41:22 +0000

For years, IRS audits were random or based on a handful of red flags. That’s changing fast. The IRS has quietly expanded its use of artificial intelligence (AI) to select taxpayers for audits. It’s not just going after obvious tax cheats . AI is cross-matching information from 1099s, W-2s, K-1s, real estate sales, retirement accounts […]

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Social Security Data is Now in Play: Protect Your Identity to Protect Your Assets

Diane Kennedy — Tue, 10 Jun 2025 07:34:43 +0000

Did you miss this headline? It’s easy to see why. It was buried under all the economic and political noise grabbing headlines right now. But we need to talk about it because there are steps you might want to take immediately. In a recent decision, the Supreme Court cleared the way for the Department of […]

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Is Your Tax Return Really Simple?

Diane Kennedy — Fri, 30 May 2025 18:40:07 +0000

We get emails like this a lot: “I am desperately looking for someone to prepare my return. My old CPA retired (died, got sick, is cutting back on clients) and I need someone right away. It really is a simple return.” And, that’s when I pause. Here’s the truth. Most tax returns aren’t simple anymore. […]

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