Blog
Why is My Refund Less Than Expected?
December 10th, 2018
Where you depending on your tax refund only to find out the IRS reduced it drastically? Or, did the IRS not sent it all? Now, are you finding yourself asking questions like: Why is my refund less than expected? or Where’s my refund? The IRS can…
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Earned Income Tax Credit Overview
November 28th, 2018
Earned Income Tax Credit is a refundable tax credit for low and moderate income individuals and families. If the credit reduces your tax liability to zero or if your income is low enough that you are tax exempt, the Earned Income Tax Credit can still…
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Benefits of Tax Planning
November 15th, 2018
Tax planning is essential to lowering your tax bill. Meeting with a tax professional and reviewing your tax status before the end of the year allows you to develop tax strategies to take advantage of tax saving measures, before it’s too late. Altho…
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New Tax Forms Have Arrived!
October 10th, 2018
The new postcard sized tax forms have arrived! Although smaller, they are not simpler. The IRS still needs all the information that was on the old forms. Unfortunately, the New Tax Reform did not change the amount of information taxpayers will need t…
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Do You Need to File a Tax Return if You are Under 18?
September 12th, 2018
You just started working your first job. Now, it is tax time. Do you need to file your taxes? It seems a lot of work because you did not make that much money. A surprise to many people, the IRS does not consider age as a factor regarding whether you…
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Hobby Income: Is It Taxable?
September 5th, 2018
All hobby income is taxable. Simply stated, if you make money from a hobby or business, you are required to report it to the IRS. To determine how to appropriately report and classify your income, you must first determine if the IRS considers your ho…
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Four Tax Deductions Eliminated under the New Tax Reform
August 21st, 2018
The New Tax Reform signed into law by President Trump in December 2017 simplified taxes for millions of Americans by almost doubling the standard deduction. Starting with tax year 2018, the IRS expects millions of taxpayers to stop itemizing and star…
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3 Ways the Alternative Minimum Tax is Affected by The New Tax Reform
July 20th, 2018
Alternative Minimum Tax (AMT), like its name infers, is a minimum tax applied to taxpayers. Currently, the tax code allows taxpayers to qualify for a lot of different deductions and credits. AMT ensures that high-income earners pay a minimum tax. It…
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4 Important Things You Need to Know about How the Child Tax Credit was Affected by the New Tax Reform
July 10th, 2018
Are you one of the millions of Americans who rely on the Child Tax Credit to help offset your annual tax bill and provide you with some extra cash to get caught up on expenses, move, or plan a family vacation? The Child Tax Credit provides some extra…
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Four Things You Should Know about How the New Tax Reform Affects Charitable Giving
June 28th, 2018
Like in years past, you must take the itemized deduction to receive any credit for donations of cash or goods to your favorite charities. Eligible donations that are deductible, include money and gifts given to: churches or religious organizations; f…
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