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. [...]
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 [...]
What do social media gigs, driving for companies like Uber, and renting out spare bedrooms in your house to travelers all have in common? They are all different ways of participating in what has become known as the Sharing Economy. This is also known as the Gig, On-Demand, or Access Economy. With the [...]
If you work at home and don't claim the home office deduction, you could be flushing money down the toilet. For the self-employed, a home office deduction can save you hundreds of dollars on your taxes. When claiming this deduction, you may claim things such as your mortgage and your utilities. But it's [...]
