Nov 2, 2020 | Tax, Uncategorized
Tax Savings for Non-Itemizers November 18, 2020 Standard or Itemize? Every taxpayer can take the Standard Deduction to reduce their income. However, if your deductions are going to exceed the standard amount you may choose to itemize your deductions. The...
Oct 29, 2020 | Tax, Uncategorized
Avoid Name Mismatch Audits November 13, 2020 If the name on your tax return does not match the name on file at the Social Security Administration for your Social Security number, here’s what could happen: Your tax return might be rejected when you...
Oct 29, 2020 | Tax, Uncategorized
Should You Amend Your Tax Return if You Find an Error? November 10, 2020 There’s usually an element of relief after your annual tax return has been filed. But what do you do if you find an error on your tax return? Should you always file an...
Oct 1, 2020 | Tax, Uncategorized
Paying for College Can be Less Taxing October 27, 2020 Tax Credits The American Opportunity Tax Credit is available for certain tuition and fees, and it allows you to reduce taxes annually up to $2,500 per student for four years of college. The credit is...
Sep 30, 2020 | Tax, Uncategorized
Is a Tax Trap Lurking in Your Paycheck? October 1, 2020 A payroll tax holiday effective September 1 was recently signed via a presidential executive order. Payroll tax holidays typically provide forgiveness of Social Security and Medicare taxes that are...
Aug 27, 2020 | Tax, Uncategorized
IRS Temproarily Stops Mailing Notices to Taxpayers with Balances Due September 1, 2020 The IRS has suspended the mailing of three notices – the CP501, the CP503 and the CP504 – that go to taxpayers who have a balance due on their taxes. Although the IRS...
