Tax Relief Options

Other handy tax deductions. In addition to the itemizable and above the line deductions, there are a few tax deductions that deserve separate mention, because they generally apply only if you have specific types of income. Investment losses: If yo... Read More

Above the line tax deductions. While you need to itemize deductions to take advantage of the tax benefits discussed in the previous section, there are quite a few tax deductions that you can use regardless of whether you itemize or take the standa... Read More

Guidance on NOL carryback adjustments. The has provided guidance on how taxpayers who want to elect to waive or reduce the new provision requiring taxpayers with net operating losses (NOLs) arising in tax years beginning in 2018, 2019, and 2020 to... Read More

A review of 2019 tax deductions. The Tax Cuts and Jobs Act was the biggest overhaul of the U.S. Tax Code in decades, and it made some significant changes to the tax deductions that are available. Many tax deductions were kept intact, but others we... Read More

Confidentiality of tax return information. We are often asked by clients about the information that they provide us, and whether it is confidential. Let us provide you with some of the IRS guidelines for Tax Professionals that discuss the measures... Read More

Common tax mistakes to avoid. Small errors lead to expensive tax bills. Tax software--of the old fashioned paper forms and calculations--won't help much when the numbers that human beings use in the first place are flawed. Finding and entering tax... Read More

Common tax myths that hurt. With tax season officially open, although it has been delayed due to the virus outbreak, taxpayers may test a familiar sense of anxiety. In fact, about one in three taxpayers told Credit Karma Tax in a recent survey the... Read More

Tax refund delays cause anxiety. Plenty of people file in February because they just can't wait to get their hands on all that tax refund cash. They're on edge about the size of their IRS tax refunds, and they're far from alone. Roughly 60 million... Read More

How to get the biggest tax refund. This is the time of the year many taxpayers are thinking about filing their taxes to get their tax refunds. Nearly 72 percent of taxpayers received a tax refund last year, and the average direct deposit tax refun... Read More

Taxpayer certainty and tax relief act. As the name implies this act is designed to give solid footing to those who are hard hit by a natural disaster and provide them with some tax relief. Over the last 31 years, we have served countless individua... Read More