Tax Reform: What Happened to My Mortgage Interest Deduction?

In December of 2017, we witnessed the most significant changes to the tax code in a generation get signed into law. If you’re confused about how the changes will affect you, you’re not alone.

Fortunately for most …

Form 1099-MISC vs. Form 1099-K: What’s the Difference?

At the beginning of every tax season, you receive informational tax forms in the mail from your places of employment, financial institutions and all other organizations you did business with throughout the year that the Internal Revenue Service wants t…

What’s new about the home office deduction in 2018?

If you work at home – even just part-time – you may claim a tax deduction for expenses related to your home office.

The new tax laws, however, may affect whether you are still eligible to claim those costs as a ta…

8 Key Highlights of the New Form 1040 Draft

At the end of June, the IRS released an early draft of the newly revised Form 1040. If you’re not familiar with that term, Form 1040 is the standard tax form individuals use to file their income tax returns. For instance, if you itemized your ded…

Changes to the State and Local Tax Deduction Under Tax Reform

You’ve probably heard about the adjustments to the state and local tax deduction. The 2017 tax reform made sweeping changes to how much you can deduct.

To better understand the changes that went into effect for 2018, he…

Don’t Be Afraid to File Your Own Taxes If You’re Self-Employed

When it comes to “being your own boss,” Americans seem to have it covered. About 15 million people in the U.S. are self-employed, or 1 in 10 workers according to the Bureau of Labor Statistics. But when tax season rolls around, many hire tax profession…

1040EZ or 1040A: What’s the difference?

When it comes time to file your taxes, it can feel like there are an endless amount of forms, options, and different qualifiers. How do you know what forms you should fill out?The main form filers use is called the Internal Revenue Service (IRS) Form 1…

The Benefits of Filing a Tax Extension Form

With the tax due date of April 17 quickly approaching, you may feel the need to scramble if you haven’t already completed your taxes. But if tax season snuck up on you this year, the good news is you can request a tax extension. That allows you an addi…

The Benefits of Filing a Tax Extension Form

With the tax due date of April 17 quickly approaching, you may feel the need to scramble if you haven’t already completed your taxes. But if tax season snuck up on you this year, the good news is you can request a tax extension. That allows you an addi…