While full-blown audits from the IRS are something that tax preparers are used to, a taxpayer likely views an audit right up there with a root canal, something to be avoided at all costs. It is impossible to predict with 100% accuracy which returns will be pulled for an audit, but there are [...]
Do you qualify for the Earned Income Tax Credit? If you do, and you don't claim it, you are leaving potentially thousands of dollars on the table. The EITC is designed to help those on a low to moderate income pay for their everyday expenses. But not everyone can get this tax break. [...]
The following article was published by the IRS. As people prepare to file their taxes, there are things to consider. They will want to determine if they need to file and the best way to do so. For tax year 2018, all individual taxpayers will file using the new Form 1040. Forms 1040A and 1040EZ are [...]
Experienced tax pros are experts at knowing which deductions to look for when you file your taxes. Deductions are simply defined as subtractions from your income that can save anywhere from hundreds to thousands on your taxes. Due to the new tax laws, everyone is going to get a much bigger standard deduction [...]
The following article was published by the IRS. The Internal Revenue Service has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. Highlights of Changes for 2019 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings [...]
