Blog

4 Ways to Reduce Medical Expenses and Save Tax Dollars

Recent reports have estimated that the average family of four will spend roughly $30,000 on healthcare—even when on an employer-sponsored plan in 2022. This is nearly a $5,000 increase on the 2020 healthcare expense numbers, and these rising costs ...

What Does the Effective Tax Rate Actually Mean?

Having a consistent number year over year for what you’ll owe on your taxes would certainly be convenient. Yet fluctuations with the tax code and the ever-changing circumstances within our own lives tend to put that dream out of ...

Contemporaneous Records to Support Your Tax Return

Some parts of the tax code almost read like another language. The terminology isn’t always familiar, and that can be a real challenge if the IRS has contacted you with any questions about your tax return.

In those ...

Business vs Hobby in the Eyes of the IRS

We should all be so lucky as to work in a field that we love. Yet sometimes this can become a gray area in the eyes of the IRS. In order to claim actual business deductions on your tax ...

Tax Reduction Ideas to Consider in Advance

There are plenty of money-saving deductions within the tax code—you just need to know where to look! Even if you don’t itemize, you still have options. Unfortunately, a lot of people aren’t aware of the strategies available to them. ...

Don’t Miss These Back to School Tax Deductions

Budgeting for school expenses is a normal part of the autumn season for most families. But what a lot of people forget is that some of those costs and school donations can actually go toward some deductions on your ...

What To Do If You’re Audited

It can certainly sound like a scary word, but an “audit” doesn’t necessarily mean you need to raise the alarm or lose too much sleep. Audits are standard practice for the IRS. While most people will never be put ...

Money for Retirement—5 Strategies to Consider

The dream of retirement is attainable! But it requires a good amount of planning. The sooner non-retirees can get to work on their savings, the better. These tips can help give you a better idea of what’s required.

Summer Job Taxes—3 Things to Know

There are plenty of ways to earn some extra income during the summertime! But you don’t want that hard work to run up against a tricky tax situation down the road. Whether it’s your child’s first summer job or ...