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 […]
Don’t Forget to Bring These Things to Your Next Tax Appointment
When it comes time to file your taxes, you’ll want to be prepared. As we’ve noted many times in the past, showing up at your CPA’s doorstep with a shoebox full of receipts is good– but tallying them (and organizing them) in advance is much better. Although the 2020 tax filing deadline was May 15 […]
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 […]
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 […]
How to Choose a CPA
April 15th is just around the corner, and if you’re been searching online for “CPA near me” you’ve likely received dozens of results. With so many firms to choose from, how do you know which one is best? For this post we wanted to discuss several tips you can use to choose a reputable CPA. […]
FAQ: How to Organize Your Tax Records
Lots of people feel stressed during tax season—especially if they feel like they’re not organized. For this blog, we wanted to highlight several tips you can use to organize your tax records. Make sure your documents are easily accessible If you haven’t already, establish a set place to store your tax documents. For example, whereas […]