The following article was published by the IRS. Changes from the Tax Cuts and Jobs Act mean the standard deduction is worth almost twice what it was before, so you may get more benefit from the standard deduction than from itemizing. To figure out whether you should itemize, you can search "how much is my standard [...]
A recent study has shown that basic, everyday expenses take up a staggering 78% of your income. This basically means that just a tad over 20% is left over for those unexpected expenses that may come your way. So that means that it's important to identify potential unexpected expenses that may or may not show up [...]
This video was published by the IRS. Did you recently get married, have a baby, or adopt a child? Did you start a new job, or get a raise? Was your tax return not what you expected, or did you owe additional tax when you last filed? If any of these situations describe you, it's time [...]
The following article was published by the IRS. The Internal Revenue Service has issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or [...]
This video was published by the IRS. One of the first things to figure out with your taxes is which filing status to use. What counts is your status as of December 31, not any other time of year. There are five filing statuses. Which one is yours? Single? That's easy. If you're single, divorced, [...]
