How You Can Reduce Your Tax Bill by Bunching Itemized Deductions

We’ve touched briefly on bunching charitable contributions in a past blog, but did you know that there are actually several different types of deductions that can be bunched? With the new, higher standard deduction set by the Tax Cuts and Jobs Act—$12,000 for individuals and $24,000 for married couples filing...

How Will Your New Business Be Taxed?

When venturing into the world of business ownership, there are a number of things to consider; one of the first things you’ll have to consider is what business designation you would like your company to have. There are actually a number of different business structures to choose from, and they...

5 Ways to Make Filing Your 2019 Tax Return Easier

We know that filing taxes isn’t exactly a picnic for anyone. So, it’s natural that you don’t want to think about dealing with your taxes until it’s absolutely necessary. However, by starting to prepare now, and planning ahead for your 2019 tax return, you can make the filing process much...

Being Audited by the IRS? Here’s What You Should Know

An audit from the IRS is certainly no picnic. But it doesn’t have to be the nightmare many people believe it to be. In fact, an IRS audit can literally take a matter of minutes, depending on the exact circumstances connected to your audit. So, if you’ve received a notice...

Tax Penalties Are about to Increase for Unfiled Tax Returns

If you haven’t filed or extended your 2018 tax return yet, the IRS is urging you to get your return filed quickly, or face an increase in your failure-to-file penalties. As of June 14th, a minimum penalty will be applied to any unfiled tax returns that have unpaid tax debt...