What is Biden’s tax plan?
In 2017, then-president Donald Trump signed the 2017 Tax Cuts and Jobs Act. In addition to lowering income tax rates for single filers, heads of household, and married couples (filing jointly or separately), it raised the standard deduction to $12,000 for single filers, to $18,000 for heads of household, and to $24,000 for married couples […]
What Happens if You Miss a Tax Filing Deadline?
Life can be hectic—and if you’ve found yourself in a place where you’re going to meet the federal tax filing deadline you may be wondering how you’ll be impacted. For this blog post we wanted to discuss some of the things that could happen if you file late. First things first: File for an extension […]
Benefits of Having a Professional Prepare Your Tax Return
Lots of people wonder if they’re capable of filing their own taxes, however, not using an accountant or CPA firm could cause you to leave money on the table. No one, we repeat, no one wants to pay a higher tax rate than what’s required by law. For this post we wanted to discuss some […]
Top 2 Mistakes People Make When They Prepare Their Own Taxes
Tax filing season is underway and if you’re among the millions of Americans who have yet to file, you may be weighing the pros and cons of hiring a tax return service. And while yes, there is an up-front cost associated with hiring a tax or CPA firm, not working with a professional could cost […]
Everything You’ll Need for a Successful Tax Appointment
If you’re among the millions of Americans who still haven’t filed their taxes, you should start by making sure you have your documents in order. Not only will this ensure your tax appointment goes smoothly, it will ensure you get the deductions that you’re entitled to. For this blog post we wanted to highlight the […]
What is a Tax Extension?
If you’re unable to file your taxes by this year’s May 17 deadline, the Internal Revenue Service (IRS) allows taxpayers to file for an extension. An extension allows individuals and businesses six additional months to file their return. However, just because the IRS allows you to file your taxes up to six months later, this […]
The Downfalls of Filing Your Own Taxes
Tax season is officially here—and if you’ve put off filing your taxes until the last minute, you may be wondering if you should file them yourself. However, we should warn you that while preparing your own taxes can save you some money on the front end, it could cost you far more on the back […]
Benefits of Hiring a CPA to Help You File Your Taxes
This year’s tax filing deadline is right around the corner—and if you’re among the millions of Americans who still haven’t filed, you may be wondering if you can handle the job yourself. If you’re a salaried employee and you’re filling out a simple W-2, there’s a good chance that you can handle that on your […]
Pitfalls of Preparing Your Own Tax Return
If you search online you’ll find countless websites that offer DIY tutorials for just about everything. If you need to change your muffler, you can find how-to video for that. Do you need to hang a flat screen TV in your living room? You’ll find videos for that too. Yet regardless as to how comfortable […]
What You Need to Know About This Year’s Tax Return
If you’re like most people, you’d like to put 2020 solidly behind you. Unfortunately, there’s still one lingering task that you’ll need to cross off last year’s list: you need to file your 2020 taxes. Below are just a few of the things you’ll want to keep in mind. Tax deadlines The deadline to file […]