Tax Changes for This Year's Return
6 minutes read
Change in tax brackets
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Tax Tips & News: standard deduction
Who Benefits From Trump’s Tax Plan?
9 minutes read
While the details are just emerging and the final plan is sure to change, the tax overhaul that Trump & the Republican party recently unveiled has clear beneficiaries; and early indications are it is NOT the “middle class”. In fact, according to this analysis, Trump’s tax plan will see the majority of the benefits—i.e. tax cuts— to the rich; particularly the top 1% & 0.1%.
7 Tax Tips: Standard Deduction Vs. Itemized Deduction
4 minutes read
The answer to the question is clear: “whatever gets me back a bigger refund”. But how do you know when it is beneficial to itemize your deductions over taking the standard deduction? Each year, thousands of taxpayers miss out of millions of dollars in additional refunds because they make a mistake in this area–usually because they choose the standard deduction over itemizing. The two major reasons for making this mistake is 1) they are used to filing...
Half of Americans Will NOT Pay Taxes in 2010
4 minutes read
All is not well at the IRS. According to the Tax Policy Center–and what is surely to exacerbate the Federal budget crisis-47% of American households will pay ZERO federal income taxes this year.