As tax filing season approaches, the IRS reminds taxpayers who give money or goods to a charity by Dec. 31, 2016 that they may be able to claim a deduction on their 2016 federal income tax return and reduce their taxes. For additional information, Please click here.
Planning ahead is key and as tax filing season approaches, the IRS is reminding taxpayers about steps they can take now to ensure smooth processing of their 2016 tax return and avoid a delay in getting their tax refund next year. For additional information, Please click here.
Standard Deductions will Increase! Here's some good news from the IRS: Your standard deduction will go up a tad bit in 2017. Individual filers and heads of household will receive a standard deduction of $6,350 and $9,350, respectively, in 2017, up $50 from 2016. Couples filing jointly get a $100 lift to $12,700 in 2017. Although this change isn't liable to put a lot of extra money in your pocket, anything that can reduce your tax liability without having to lift a finger is g