When filing your taxes, it’s important to take advantage of every deduction and credit you may qualify for. This is the best way to reduce the amount you owe in taxes, and possibly maximize your tax refund. But if you’re offered the choice between a...
This tax season is going to be an interesting one. Not only is this the year that many tax reform laws go into effect, but it’s also beginning with an indefinite government shutdown. This can make filing your return this year a daunting and somewhat...
Whether it’s a natural disaster like a hurricane or flood, or a localized disaster like a house fire or burst pipe, these kinds of events can have an enormous impact on your home and your life. You’re left with an endless list of things to...
The IRS recently announced that the Security Summit—a partnership of the IRS, states, and members of the tax industry—are launching a special initiative known as National Tax Security Awareness Week. This campaign, which will be held from December 3rd through the 7th, is aimed at...
Business owners know that financial planning is a vital part of running any company. Financial decisions should never be made without careful thought and consideration. And yet, far too many business owners completely neglect the importance of tax planning. Professional tax planning should be a...
Deductions are an important factor when filing your tax return, and can significantly alter the amount you owe; in some cases, deductions can even offer you a refund, when you might otherwise have been making a payment to the IRS! This year is the first...
If you are an owner or partner in a business, filing your tax return is significantly more complex than it is for individuals filing only a personal return with W-2 earnings. There are numerous additional laws, deductions, and considerations that you must keep in mind...
If you owe the IRS for past-due taxes, you’re familiar with just how stressful the situation can be. The IRS can be quite persistent in their collection efforts, and they do not take failure to pay lightly. Plus, the longer you go without settling the...
High medical bills put a strain on many people’s finances, but the IRS offers some relief through a medical expenses tax deduction. If you’ve had unexpected medical expenses, or your or your dependent has a medical condition that requires expensive medical care, you might qualify...
If you use a tax preparer to file your tax return for you, you give them a lot of delicate information. They know all about your finances, your marital status, your contact information, and they even have your Social Security number. So wouldn’t you want...
