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May 2, 2020
Laws and Legislations, Taxes
Above-the-Line deductions, or adjustments to income, could help you save money on taxes. Taking these deductions reduces your taxable income and so reduces your tax bill. And the beauty is you can take these deduction even if you do not itemize.Furthermore, by using these deductions, you can reduce your adjusted gross income (AGI). And by
May 2, 2020
Laws and Legislations, Taxes
Itemized deductions are one of the least used tax incentives. With the standard deduction being a whooping $12,200 for individuals and twice that amount for married couples, who would blame you.But in those years where you make big purchases or have huge medical expenses, it could very well be worth your time to itemize. And
May 2, 2020
Laws and Legislations, Taxes
Do you know all you need to know about tax credits? Which ones are available to you and which ones you should be claiming? There a lots of tax credits out there and it can get confusing very fast but we are going to break it down for you today.I previously did a post on
May 1, 2020
Laws and Legislations, Taxes
Tax time can be a very confusing and stressful time. Most of us probably don’t know about all the tax credits and deductions available to us. We just head over to Turbotax or other online software, fill in our details, take the standard deduction, and hope that that software will provide us with the best
May 1, 2020
Laws and Legislations, Taxes
Oh the dreaded “T” word – taxes. Every time January 1st rolls around you can practically hear a collective sigh go out around the world as most people begin preparing their taxes. Preparing your taxes might be a pain but getting that tax refund is like Christmas part 2.But are you sure you are getting
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