Tax Strategies

The Latest

  • February 9, 2015

    There are 5 filing statuses listed on the Federal individual income tax return. Each year, you must indicate which filing status you are using.

    The filing status you choose affects the amount of your...

  • February 6, 2015

    Itemizing your deductions (as opposed to claiming the standard deduction) means that you may be able to deduct certain miscellaneous expenses on your income tax return.

    ...

  • February 2, 2015

    Beginning in 2014, the Individual Shared Responsibility provision of the Affordable Care Act takes effect. This means that each and every taxpayer (and family member) is now required to maintain basic health insurance, also called “...

  • January 30, 2015

    Spring has arrived and April 15 will be here before we know it, but many of us won’t be ready to file our tax returns in less than a month.

    Thankfully, the IRS allows taxpayers to request an extension of time to file, as long as the...

  • January 27, 2015

    Saving for your retirement through individual retirement accounts (IRAs) can have a significant impact on your taxes. IRAs are designed to give people incentive to save for their retirement, potentially offering greater tax benefits over other...

  • January 22, 2015

    When you are filing your 1040 tax return, right before you compute your final taxable income, you have the option to either claim...

  • January 19, 2015

    There are many reasons why you may need to obtain a copy of a past tax return. Perhaps you simply lost your copy or there is a pressing financial transaction on...

  • December 30, 2014

    The Federal income tax is a “pay-as-you-go” tax. This means that you are expected to make tax payments throughout the year, instead of all at once at the end of the year. For most people, this requirement is satisfied by having tax withheld from...

  • December 29, 2014

    During the month of December, consider these year-end tax tips that could save you money when April 15th comes around.

    1) Give to Charity

    If you plan on a itemizing your deductions, you can reduce your tax liability...