The United States tax system is complex, and filing tax returns accurately is crucial to ensure compliance with the Internal Revenue Service (IRS). One critical aspect of the tax return...
All tax filers can choose to itemize or go by the standard deduction route. However, many people go by the option that gives them the maximum tax benefits. Also, many people's...
Posted by Taxes Made EZ Inc on 06/15/2023
Every taxpayer needs the means to lower their taxes. Both individuals and business owners look for ways to save each dollar in taxes. Although the government initiated the Tax Cuts...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/01/2023
How the Internal Revenue Service defines and calculates different types of income affects the taxes you owe. Modified adjusted gross income (MAGI) is one of them. MAGI also decides...
Posted by Pat Raskob on 08/11/2022
Tax season has many people wondering what itemized deductions are and their role in tax preparation. Itemized deductions offer an alternative to standard deductions and can reduce...
Posted by Rosovich & Associates, Inc. on 06/24/2022
Small businesses enjoy a variety of tax benefits, including corporate deductions. One of these possible tax deductions concerns business vehicles. Some businesses require vehicles...
Posted by Taxes Made EZ Inc on 10/19/2021
Uncle Sam issued tens of millions of tax refunds every year, and every taxpayer gets an average of $2,500 tax payment. If you know how to play it well, there could be bigger tax...
Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
Getting a new car is an interesting process. New seats, new windows, the smell of a clean car - what's not to like about it? Buying a new car usually means getting rid of an existing...