by Michael Bryant | Mar 28, 2019 | Blog
All income is taxable unless the law specifically excludes it, but as you might have guessed, there’s more to it than that. With that in mind, let’s take a closer look at taxable vs. nontaxable income. Taxable Income Taxable income includes any money you...
by Michael Bryant | Mar 28, 2019 | Blog
Tax reform eliminated a number of deductions that many taxpayers counted on to reduce their taxable income. Here are four that could affect you. 1. Personal Exemptions Personal exemptions enabled individual taxpayers to reduce their taxable income in addition to the...
by Michael Bryant | Mar 28, 2019 | Blog
The Tax Cuts and Jobs Act has resulted in questions from taxpayers about many tax provisions including whether interest paid on home equity loans is still deductible. The good news is that despite newly-enacted restrictions on home mortgages, taxpayers can often still...
by Michael Bryant | Mar 28, 2019 | Blog
All of the names on a taxpayer’s tax return must match Social Security Administration records because a name mismatch can delay a tax refund. Here’s what you should do if anyone listed on their tax return changed their name: 1. Reporting Taxpayer’s...
by Michael Bryant | Mar 28, 2019 | Blog
Obtaining a 6-month extension to file is relatively easy and there are legitimate reasons for doing so; however, there are also a few downsides. If you need more time to file your tax return this year, here’s what you need to know about filing an extension. What...
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