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Professionals Column

The first step to filing your Federal income-tax return is to determine which filing status to use. In other words, two people making exactly the same amount of income could have different income-tax …

Take advatange of e-filing tax returns options

Electronic filing is the safest, fastest and easiest way for taxpayers to file their tax returns, according to the IRS. Furthermore, e-filing is good for the tax system, good for taxpayers and good …

Take care when choosing your tax preparer

If you pay someone to prepare your tax return, the IRS urges you to choose that preparer wisely. Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone …

The “Inflation Reduction Act” (IRA) has expanded and extended new energy credits which will save tax dollars for most Americans. Also, the $500 lifetime cap for energy will be replaced with a …

With the New Year come new tax laws. One new tax law, called the "Inflation Reduction Act" (IRA), makes the largest investment in combating climate change in U.S. history, lowers the cost of …

Happy New (Tax) Year

First and foremost, I want to wish all my readers a happy and peaceful New Year. Your emails and calls are appreciated.It’s that time of year again. The income-tax-filing season has begun and …

Your home sale and capital gains

What is the best tax break available to John and Jane Taxpayer? It’s selling their home. When you sell your primary residence, you can make up to $250,000 in profits if you’re single, $500,000 if …

Own a home? Here are some tax advantages

Buying a home is the single most-valuable investment most families make, and home ownership offers income-tax breaks that make it the foundation for overall tax planning. The tax law provides …

7 deadly tax sins: all can lead to grief

Taxes are complicated, so it’s no wonder that everyone makes mistakes from time to time. But some actions go beyond incorrect arithmetic or thinking something is deductible when it’s not. Some …

Tax benefits for parents

All parents are familiar with the high cost of raising children. But did you know that your children can help you to qualify for some income-tax benefits? Here are some tax benefits the IRS wants …

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