Deducting Un-Reimbursed Professional Expenses

According to the IRS, to be deductible, an expenditure must be both ?ordinary? and ?necessary? in connection with your profession.? The IRS defines ?ordinary? as common and accepted in a particular profession and ?necessary? as helpful and appropriate for a particular...

Trump’s Tax Plan

Here are the major points of Trump’s Tax Plan that will impact your personal taxes: Decreased Tax Brackets and Rates: Trump’s tax plan calls to reduce the number of tax brackets from the current 7 brackets (10%. 15%, 25%, 33%, 35% & 39.6%) to just 3...

Did You Get an ID Theft PIN From the IRS?

An Identity Protection PIN is a 6-digit number that the IRS assigns to taxpayers each year to help verify your identity and protect against identity theft. If you?ve been a victim of identity theft, you must include this IP PIN to your tax return in order to...

Year End Projections Can Reduce Your Taxes

With the end of the 2016 calendar year quickly approaching, reviewing your specific tax situation may be tax-wise to help reduce your income taxes as well as possible underpayment of tax penalties. Year-end planning techniques to reduce your taxable income or increase...

Checklist to Cut Your 2016 Taxes

It’s not too late to cut your 2016 tax bill.? Prior to Dec. 31st: Increase your 401(k) and 403(b) contributions if you haven’t been contributing at the maximum rate all year. This year you can put away up to $18,000 ($24,000 if 50 or older) into your...