Getting audited by the IRS is becoming rare. In 2018, the IRS audited about 0.5% of returns filed. This is a 42% reduction from the audits conducted in 2010 and about 66% less than the number of audits from about 50 years ago.Continue reading “2021 Tax Audit Trends”
It’s still early in the year, but that doesn’t mean tax scammers aren’t busy. Every year, con artists and fraudsters come out of the woodwork to take advantage of taxpayers. The only difference is that they might slightly modify their scams. Here is a list of a few scams that taxpayers need to be on the lookout for in 2021.Continue reading “Top Tax Scams to Watch for in 2021”
It’s a brand new year, which means new income tax rules go into effect. Unlike previous years, most of the changes in 2021 are relatively minor. In this blog post, we’ll touch on five of these changes that are most likely going to affect the individual taxpayer.Continue reading “2021 Income Tax: Top Five Changes”
The Tax Cut and Jobs Act made significant changes to the tax code and eliminated or diminished many tax breaks for the average person. It did this in several ways, including reducing deductions for property, state and local taxes as well as eliminating personal exemptions. Despite these changes, there are still many tax breaks that most people can still take advantage of. Below is a list of just a handful of them.
Government spending constantly goes up, no matter what politicians promise.
With so many government programs, pork barrel spending and earmarks, it’s no wonder this country’s debt continues to rise. And exactly how does the government pay for all this? With taxes, whether creating new ones or increasing the rate of existing ones. The following blog discusses some of the strategies available that can help keep the government out of your wallet! Continue reading “Watch Your Wallets!”
Nobody likes paying taxes, but everyone likes being able to reduce the taxes they have to pay. There are several ways you can get a few tax breaks, whether it’s a tax deduction, tax credit or tax exemption. Even if you already utilize a few, you may still be asking yourself if you’re taking full advantage of what’s available. When you prepare your tax return, are there any tax breaks or secrets that you might be missing? The following article will discuss a few tax breaks available to almost anyone that you could be missing out on. Continue reading “ALERT: Tax Breaks for the Average Person”