There is a way you can deduct the medical expenses of another person, even if the person is not under the same roof as you. This is a tax break that many do not utilize, especially...
Medical expenses can be deducted from your federal tax return as much as they exceed 10% of your annual gross income. Most people are aware of the common medical expenses you...
The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
Taxpayers are always looking for legitimate ways to save on taxes and with the right tax preparer, you will always get advice on ways to save on the amount you pay for taxes each season....
You should be considering withdrawing from your retirement savings if you are out of work and need income. Normally you have to pay a 10 percent early withdrawal penalty if you will...
Posted by Tim Thompson CPA PLLC on 07/16/2020
The federal government estimates that approximately 60% of people use paid tax preparers to complete and file their tax returns. If you fall into this category, you have nothing to...
Posted by Tim Thompson CPA PLLC on 06/15/2020
The thought of retiring can be a terrifying prospect. Think about it: it's practically decades of unemployment, assuming you don't work at all during this time, with a set...
Posted by Freddie Cook, CPA on 06/11/2020
Itemized deductions are tax deductions you receive for various expenses incurred during the year. They can sometimes exceed the standard deduction, which means that specifying the...
Posted by Don Bell Law on 06/11/2020
On March 20, 2020, the United States Department of the Treasury, The Internal Revenue Service (IRS), and the US Department of Labor (DOL) announced that small and medium-sized businesses...
Posted by JG Tax and Financial Services on 05/17/2020