Filing your taxes on time is essential to avoid potential problems and penalties. Late tax filers may face various consequences, such as additional fees, interest charges, and even legal issues. By filing your tax returns promptly, you demonstrate your responsibility as a taxpayer and ensure compliance with the law. Timely tax filing also helps you […]
Owing taxes can be financially painful which often leads to physical and relationship problems and more. Tax delinquency can cause feelings of embarrassment and make others lose respect they had for you. Whether you are an individual who may not be affected as emotionally as others when dealing with tax issues, working with a professional
3 Steps Towards the Path to Resolving Your Tax Issues Read More »
The amount of taxes you pay each year is greatly impacted by your filing status. Selecting the best filing status, while taking certain aspects of each into consideration is key to maximizing your tax situation. Most couples fail to meet with their tax advisor before they get married to gain an understanding of the impacts
Married Filing Joint vs. Married Filing Separate: What Your Tax Preparer is Not Saying… Read More »
Medical Deductions: Limited by 7.5% of your AGI. Example, if your adjusted gross income is $100K, your medical deductions would have to be over $7,500. If your medical expenses totaled $8K for the tax year, your medical deduction would be only $500. State and Real Estate Property taxes are capped at $10K: You
Itemized Tax Deductions Most Taxpayers Don’t or Can’t Use Read More »
If you are of the many taxpayers who owe taxes year after year and never really understand why, this article will help to uncover some potential reasons why, as well as help you to avoid this problem going forward.
Owing the IRS can be a very daunting experience that causes many individuals to run and hide from IRS notices that demand payment. However, as with most things in life, you cannot hide forever and typically the time comes when you may be faced with having to deal with a levy on your paycheck or
Releasing IRS levies on your paycheck or bank account Read More »
