Tax Tips From The IRS: Should You Itemize Or Use Standard DeductionMost people claim the standard deduction when they file their federal tax return because it’s easier and requires less effort, but you may be able to lower your tax bill if you itemize.
Tax Tips From The IRS: Do You Need To File A 2016 Tax Return?Not everyone is required to file a tax return. Most people file a tax return because they have to.
Tax Tips From The IRS: Taxable And Non-Taxable IncomeAll income is considered taxable unless a law specifically says it isn’t.
Taxes: Audit Red FlagsLess than one percent of last year’s returns got audited. Most audits are simple paper audits where the IRS sends you a letter asking for supporting documentation.
Taxes: Taxes On Your InvestmentsHere's the skinny on capital gains, capital losses, and dividends.
Taxes: Education Credits and DeductionsCollege is a very expensive experience. Congress and the IRS have given us a few ways to offset education costs.
Taxes: Deductions & CreditsTax deductions lower your taxable income. Tax credits provide a dollar-for dollar reduction of your income tax liability.
Taxes: Opening The MailThe tax information has begun to arrive. Open those envelopes!
Tax Planning: Giving It Away
Tax Planning: Last Minute StuffEvery year around the third week of December Congress decides to tweak the tax code, and I would suggest that you watch for changes thru 2017.
Tax Planning: What Is On Your Tax Return?Review your tax situation now so you have some idea what tax bracket you will fall into this year and decide whether you want to do the long 1040 or the simpler and shorter form 1040EZ.
Tax Planning: The Self-EmployedIf you are self-employed your Schedule C is very important. There are some tax breaks worthy of spending some time on.