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...
Posted by Rosovich & Associates, Inc. on 05/18/2021
There are several ways to reduce the tax burden. However, the two most popular are probably tax credits and tax deductions. While they may look the same, they are two very different...
Posted by KLSM CPA Firm PLLC on 02/09/2021
The tax day is around the corner, and it is not too early to start preparing your documents for Uncle Sam. This is a really busy time for accountants and tax professionals since they...
Posted by Pat Raskob on 01/30/2021
For people that want to donate money to a political campaign, it is essential to think if one can deduct it from your tax return. The answer is no, as Uncle Sam specifies that...
Posted by Tucker Accounting Services LLC on 05/06/2021
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...
Posted by Stevenson Tax and Accounting, Inc. on 02/11/2021
Filing taxes is a time when some people are seeking the biggest refund, and others are just looking to owe the IRS less money. In order to accomplish these goals, people are...
Posted by TAX-Net LLC on 12/03/2020
When it comes time to work on your taxes, one of the best things that you can work on is ways to save money. No one wants to finish their tax return and find out that they have a huge...
Posted by David Gollner on 04/24/2016
When it comes to tax time, you will want to make sure that you are finding ways to limit your tax bill as much as possible. No one wants to come to the end of the year and owe a ton...
Posted by L. James & Associates LLC on 04/06/2016
Being self-employed can bring a great deal of freedom, both professionally and personally. Along with that freedom, you are now responsible for handling all of your own expenses. By...
Posted by Allan J Rolnick, CPA, CTC on 03/24/2016
