Summer Cleaning? It’s a Great Time for Tax-Deductible Donations

If you’ve been doing some spring cleaning or clearing out your winter wardrobe for your summer wardrobe, now is the time to start thinking about the tax deduction you can get donating your unwanted items to a thrift store, instead of waiting until the night before...

Buying a new home this summer?

Summertime is a popular season for purchasing a new house.  Before you listen to any great “tax benefits” from your realtor or mortgage lender, let’s clear a few things up before you come in for your appointment. Purchasing a home? When it come to the actual...

Projected Delivery Schedule for 2020 Tax Refunds & Tracking

With the processing of 2020 federal tax returns now underway, the IRS has issued information about the likely timetable for refunds to be issued. Here are some key points to keep in mind: The IRS began processing returns on February 12, 2021The fastest way to receive...

2021 Adjustments to Tax Brackets and Deductions

The IRS recently released a list of federal income tax adjustments for 2021. The most important changes include higher standard deductions and higher income limits for common tax rates. Standard Deduction Increases The standard deduction for individual taxpayers will...

Tax Tip: Tracking Income and Expenses for “Gig” Work

With working from home becoming more common in 2020 & 2021, many people are taking on freelance or “gig” work to supplement their incomes. Whether you rely on gig work as your primary income source or just log a few hours a week, it is important to track all your...