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Tag: itemized deductions

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Prepare for Tax Year 2020

Prepare for Tax Year 2020

The IRS already announced the inflation adjustments for next year. Although the e-file and extension deadline is in a month, the year is almost gone. 2020 has been more than a roller coaster ride, and the next tax season is only a few months away. Many taxpayers may wonder how their stimulus payments affect your […]

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Tax Deductions: Choosing to Itemize or Claiming the Standard Deduction

Tax Deductions: Choosing to Itemize or Claiming the Standard Deduction

Trying to understand anything tax related makes you feel like you’re back in grade school. However, it doesn’t have to be difficult. Here’s some sure-fire information that may help you out if you’re a first time filer, or if you have some general questions about claiming tax deductions. What’s the difference between claiming the standard […]

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