Adjust Your Withholding

ADJUST YOUR WITHHOLDING If you were like a lot of taxpayers last year, you were surprised when you filed your tax return because you didn’t get that refund you expected, you owed with your 2018 return. In many cases, your income had not changed substantially. What...

That’s Taxable?

That’s Taxable? I must admit that it can be an uncomfortable conversation when a tax professional must explain that something the client believes is not subject to income tax in fact is taxable. It’s more uncomfortable though if that conversation happens because the...

Common Tax Mistakes

COMMON TAX MISTAKES As we start tax filing season 2020 I thought it might be a good idea to go over some mistakes that are easy to make when filing your return. All won’t apply to you but one might save you money. “Tax simplification” was one of the big selling points...

Above The Line

Above The Line Last week I talked about some common mistakes, and I mentioned that the Standard Deduction was essentially doubled with the passage of the tax bill of 2017. For single taxpayers the Standard Deduction is $12,200 and $24,400 for married taxpayers in...

TAX PAYMENTS – MARCH 2020

TAX PAYMENTS I think it’s safe to say these are unprecedented times, and there has been talk as I write this (and there may have been changes by the time you read this), but eventually if you owe additional tax on your 2019 tax return, you will have to pay it. Unless...