standard deduction vs itemized deduction

01 May Standard Deduction Vs Itemized 2019: Which Should You Take

The Tax Cuts and Jobs Act changes a few things. One of the biggest changes was increasing the standard deduction. The increase was so drastic that most taxpayers will take it rather than itemize. However, it's important to know the difference between the two deductions, how they work, and which one is better for you. Important...

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economic impact payment check behind title text

09 Apr Understanding the Economic Impact Payment

Things are changing by the minute regarding taxes, the IRS, and the Economic Impact Payment. After the CARES Act was passed at the end of March, the government agreed to send stimulus checks to qualifying taxpayers. For those who have direct deposit information with the IRS, those checks could be coming as soon as next...

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closed sign behind title text

03 Apr Coronavirus Small Business Loan Program: A Breakdown

Many things have changed due to the COVID-19 pandemic. It has shut down countless businesses across the country. However, the government passed a bill that would provide relief to small businesses affected by this disaster. As of April 3, applications for the Coronavirus Small Business Loan Program are being accepted. Here is a breakdown of what...

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calendar showing July 15

24 Mar Tax Filing Extension: What to Do With Those Extra 3 Months

If you haven't already heard, the IRS officially pushed Tax Day back from April 15 to July 15. That gives taxpayers an extra 3 months to file their returns amidst all the closings and quarantines. That's a huge relief to both taxpayers and accountants, but this tax-filing extension presents another question: What should you do with...

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