November 18, 2019

Eligible Employees can use Tax-Free Dollars for Medical Expenses

Health care open season now is under way at many workplaces. As a result, the IRS reminded workers they may be eligible to use tax-free dollars for medical expenses that are not covered by other health plans. Flexible Spending Arrangement (FSA) Are you an employee of a company that offers a Health Flexible Spending arrangement (FSA)? If so, you need to act before your medical […]
November 11, 2019

New Version of SSN scam for Taxpayers

Taxpayers should be on the lookout for new variations of tax-related scams. In the latest twist on a SSN scam, scammers claim to be able to suspend or cancel the victim’s SSN. It’s yet another attempt by con artists to frighten people into returning ‘robocall’ voicemails. These ‘robocalls’ are truly one of the most annoying things in the age of cell phones if you ask […]
August 12, 2019

Home Office Deductions may Benefit Business Owners

Taxpayers who use their home for business may be eligible to claim a home office deduction. It allows qualifying taxpayers to deduct certain home expenses on their tax return. This can reduce the amount of the taxpayer’s taxable income. Understanding the Home Office Deduction and Whether they can Claim it: The home office deduction is available to both homeowners and renters. There are certain expenses […]
April 1, 2019

Important Changes to Itemized Deductions when Filing Taxes

Tax law changes in the Tax Cuts and Jobs Act (TCJA) affect almost everyone who itemized deductions on tax returns they filed in the past. One of these changes is that TCJA nearly doubled the standard deduction for most people. As a result, many people may find it better to take the standard deduction. However, some people may still think about itemizing if their total deductions […]