Gather All Necessary Documents:Collect all relevant tax documents, including W-2s (for employment income), 1099s (for various types of income), mortgage interest statements, investment...
Posted by True Tax Service on 09/12/2023
1. Contribute to Retirement Accounts:Maximize contributions to your 401(k), IRA, or other retirement accounts. These contributions can lower your taxable income and increase your retirement...
Posted by True Tax Service on 09/11/2023
If you've taken a break from the Required Minimum Distributions (RMDs) in 2020 due to the CARES Act, we hope you had a great vacation and are ready to come back and update your...
Posted by CORE PERFORMANCE on 12/10/2021
Donating to a charity does not only help advance a cause that you have passion for, it also helps bring down your tax bill. This article explores everything you need to know about...
Posted by Carmen Garcia on 07/17/2021
In filing your federal tax return, you can decide to go through the itemized deduction channel or standard deduction method. Standard deduction involves some values defined by Uncle...
What if you had the chance to win an award of excellence for your outstanding contributions to art, community service, or science? Do you have to pay income tax on this amount? The...
The OPR supports the IRS's strategy to improve tax law enforcement, ensuring that tax professionals meet tax practice standards and comply with the law. The OPR is the regulatory...
Several charities are experiencing a drop in donations as the United States grapples with the COVID health crisis. In response, Congress included a clause in the CARES Act, designed...
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....