Individuals and small businesses should consider various ways of starting off on the right foot for the 2023 tax year. While the list below is a great start, the most important of these actions is keeping timely and accurate tax records. Top Considerations for Starting the 2023 Tax Year Right W-4 Updates Employed? If so, …
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Consider Bunching Deductions To Provide Big Tax Benefits
If your tax deductions normally fall short of itemizing (or if you itemize, but only marginally) consider using the strategy of bunching deductions to provide bigger tax benefits. The tax code allows most taxpayers to either utilize the standard deduction or itemize their deductions – whichever provides a greater benefit. As a rule, most taxpayers …
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10 End of Year Tax Saving Strategies to Consider
If you’re looking for year-end tax saving strategies, we have a few to share. It just seems hard to believe that the holiday season is almost upon us. Mainly because right after turkey and trees, comes the 2021 tax preparation season! With the end of the tax year just around the corner, tax-savvy individuals need …
Itemizing NOT Necessary. Claim These Tax Deductions Without Itemizing
Claiming tax deductions without itemizing on your tax return? It’s now a reality. Most taxpayers think they have to itemize their deductions to claim them on their tax return. However, that is not entirely true. You can claim certain deductions while still using the standard deduction. Here is a list of tax deductions you can …
Itemizing NOT Necessary. Claim These Tax Deductions Without ItemizingRead More
