Do You Know About These 5 Overlooked Medical Tax Deductions?

It’s getting more and more difficult to claim medical tax deductions. That’s because you can only claim those tax deductions once they exceed 10% of your adjusted gross income. So you’ve got to do your best to maximize every opportunity you can to do smart tax planning. Here are five of the most overlooked medical tax deductions […]

Extension, procrastinator…Who me?

  Are you one of those “wait till the very last minute” type of people” or a procrastinator? Millions of taxpayers file tax extensions each year thinking that they can delay the inevitable.The IRS is glad to give you an extension if you owe taxes because they are going to charge you penalties and interest […]

Yet Another New Warning on a Last-Minute Tax Scam!!

It seems that we receive notices almost daily about new and more aggressive IRS scams.  The IRS and state tax agencies recently issued another a new scam warning, this time for both tax professionals and their clients of late-season phishing e-mail scams, especially those requesting last-minute deposit changes for refunds or account updates. As tax season winds down, tax-related […]

Beware the Ides of March

William Shakespeare famously wrote “Beware the Ides of March” in the play Julius Caesa in 1599 and for many years it was just something that was horrific for Caesar, who was assassinated by Marcus us Brutus the Younger in the senate on that date, which corresponds to March 15, in the year 44 B.C.E. But from 1918 […]

Using Tax Software is not a Substitute for an Enrolled Agent

  The tax software companies want you to believe that their software’s interview process is all you need to prepare your own taxes and it is very convincing. After all, that’s what marketing does; convinces you that their product will work for you. They try to say it is a one size fits all.  It’s […]

Can You Claim Your Parents as Dependents?

With so many millennials moving back home with mom and dad, the question of whether adult children living with their parents can be claimed as dependents is a hot topic. On the other side of the generational divide, and affecting at least as many people, is the question of whether parents can be claimed as […]

Don’t Fall for Scam Calls and Emails Posing as IRS

Scammers are continuing to use the IRS as a lure and these tax scams take many different forms. The most common scams are phone calls and emails from crooks who pretend to be from the IRS. These scammers use the IRS name, logo or even a fake website to try and steal money from you. Identity theft can […]

How We Wound Up with the Income Tax

Imagine a world without income tax; if you were an American citizen before 1913, with a few exceptions you didn’t have to deal with an April deadline and the IRS. Today, no one really knows how big the tax code is. February 3rd is the anniversary of the ratification of the 16th Amendment in 1913. […]

Filing Season Opens – with Possible Refund Delays

Port St Lucie, Fl. — (January 23, 2017) Tax filing season for individuals opened today, but for some, this doesn’t mean a speedy refund can be counted upon. While IRS expects to issue nine out of ten refunds in fewer than 21 days, they’ll be holding onto refunds for returns that claim the Additional Child […]

Last-Minute Savings for Tax Year 2016

  Last-Minute Savings for Tax Year 2016 Attention last minute savers! There’s still time to reduce your tax burden for 2016. Have you funded a traditional IRA, Roth IRA, or SEP this year? The deadline for contributions to IRAs is April 18, 2017 — this year’s filing deadline. For self-employed taxpayers, contributions to a SEP […]