by Paula Kennedy, EA | Sep 28, 2022 | Blog, Tax
Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first planning steps is to ascertain whether you’ll take the standard deduction or itemize deductions for 2022. Many taxpayers...
by Paula Kennedy, EA | Jan 11, 2022 | Tax
While Congress didn’t pass the Build Back Better Act in 2021, there are still revised tax limits that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. If you’re like most people, you’re probably more...
by Paula Kennedy, EA | Dec 16, 2020 | Tax
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. But with proper planning, you may be able to time discretionary medical expenses to your...
by Brian Hare, CPA, CGMA | Mar 6, 2020 | Tax
Not ALL interest on home mortgage loans is deductible. If you own a home, the interest you pay on your home mortgage may provide a tax break. However, many people believe that any interest paid on their home mortgage loans and home equity loans is deductible. Not...
by Paula Kennedy, EA | Jan 29, 2020 | Tax
Right now, you may be more concerned about your 2019 tax bill than you are about your 2020 tax situation. That’s understandable because your 2019 individual tax return is due to be filed in less than three months. However, it’s a good idea to familiarize yourself with...
