Accounting
A Valentine’s Day Gift: An Updated Marriage Bonus And Penalty Tax Calculator
Does Valentine’s Day make you think about marriage? If you need one more reason to take that step, consider that Uncle Sam may already have…
Read MoreTrump’s 10 Year Revenue Estimates Would Fall By At Least $3 Trillion With Realistic Economic Assumptions
The Trump Administration would miss its revenue targets by at least $3 trillion under more realistic economic assumptions…
Read MoreWhat Your Tax Preparer Needs to Calculate Your Business Taxes
If you love to hate taxes, maybe it will help to think about it this way: Taxes impact all of us and fund our community structure. Without taxes, we could not fund our roadways, our government, nor services like firefighters and police. No roads means no product delivery and no customers. No police means security…
Read MoreDo You Know the Difference Between an Itemized Deduction and a Standard Deduction?
Do you know the difference between an itemized deduction and a standard deduction? Deductions reduce the amount of taxes you owe when filing a federal tax return. That said, there are two types of deductions: The standard deduction, based on an IRS schedule, or the itemized deduction. Knowing which type of deduction is best for…
Read MoreTrump’s Private Education Tax Credit Is Wrong-Headed And Badly Designed
I often see tax proposals that are well-intentioned but poorly designed. I sometimes see ideas that are well designed but wrong-headed. President Trump’s private education tax credit is both…
Read MoreKnow Your Taxpayer Rights
Best PersonalTaxPrep.com tax tip this year: Know your rights. Fifteen years ago, the IRS has created the Taxpayer Bill of Rights (TBOR). Since then, congress codified it as part of the tax code. That means the Taxpayer Bill of Rights is law and it applies to all U.S. taxpayers anytime they must deal with the…
Read MoreTuesday Tax Tip
Tax Tip Tuesday
File Free at IRS Free File
File Free at IRS Free File If you just want to get your 2019 personal tax return filed, the IRS wants to make it easier to do. At IRS free file if you earn less than $69,000 in 2019, you can log onto IRS.gov to choose your free file product. You can find both federal…
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