Most taxpayers claim the standard deduction amount. The amounts are adjusted each tax year for inflation. For 2012, the standard deduction for taxpayers younger than 65
Category: Taxes
IRS to Offer Simplified Home Office Deduction in 2013 Tax Year
IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours A Year IR-2013-5, Jan. 15, 2013 WASHINGTON — The Internal Revenue Service today announced a
Newlywed Tax Advice
Congratulations! This exciting time in your life can bring lots of changes, such as moving into a new apartment, buying a house, combining finances or joining families. It’s so fun to start out your new life together, but it’s a
Payroll Tax Reduction Expired
Payroll Tax Cut Expired The two-year payroll tax cut reduced for employees and self-employment tax for business owners. This reduction was originally part of the 2010 Tax Relief Act that included other economic stimulus measures to encourage consumer spending and
Start of Tax Season Delayed Until End of January
The tax return filing season will start on January 30 for most taxpayers, not on January 22 as originally planned. In addition, tax forms impacted by late extender legislation will be delayed until late February or early March. IRS News
7 Ways to Get Organized
Even if your tax situation isn’t complicated, there’s still documentation the Internal Revenue Service demands. But filing taxes doesn’t have to be an ordeal. And it can be less frustrating and less time-consuming if you have all the material at