When it’s tax time, one of the first decisions facing many folks is whether to use a tax professional or to do it yourself. If you are at this juncture, here are a few considerations. Is a Self-Driven Software Package Right for Me? This could be the right answer for many people. If you …
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How do you file taxes for a deceased family member? When someone close passes away, taxes are the last thing on your mind. Unfortunately, the death of a family member often raises tough financial questions regarding the deceased’s assets and estate. Here’s a quick guide to get you through. 1. Determine if the deceased is …
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Do you need a tax preparer? If you’re used to doing your taxes on your own or with a DIY software service, it can be hard to tell. Here are a few reasons you might want to enlist the help of a tax professional. 1. You have a complex return Whether you’re retired, own rental …
A tax preparer takes responsibility for preparing and filing your taxes. Your tax preparer will begin by interviewing you about your retirement or employment, all sources of income, as well as filing status, possible dependents, exemptions and deductions. This gives the preparer a clear picture of your current situation. The next step is for your …
Although the new tax bill might mean that Tax Year 2017 is the last year you need to itemize, there is still plenty of time to take advantage of these often-overlooked tax deductions. For many Americans, itemizing can help lower their tax bill or increase their refund. The savings can go further than you think. …
Continue reading “Three Types of Tax Deductions You Might Be Missing”
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