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Archive for March, 2020

Common Tax Filing Mistakes

Here we are at the April tax deadline. But if you have started preparing early like Dave and Julia, then you have enough time left to cross check what you did. This will ensure reduction or elimination of any mistakes in the process. People often make the same mistakes every year, so here are a few last-minute tips to remember:…read more →

Tips about Taxable and Nontaxable Income

If there is an income, there usually is a tax on it. Kevin and Melissa understand it very well and that explains their meticulous planning for the year. This week we discuss what type of income must be reported on tax returns. Are you looking for a hard and fast rule about what income is taxable and what income is…read more →

Itemizing vs. Standard Deduction: Three Tips to Help You Choose

When you start planning early, you have time on your side to help you compare between various options and choose the best for yourself. While filing your tax return, you usually have a choice of whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deductions using both methods. Then choose…read more →

Retirement Savings Tips and Making IRA Contributions

Who doesn’t aspire for peace of mind during the sunset years? Well, everyone does! We all know that to have a good retirement, you must start saving early in life. Bob and Devin know that saving for retirement will not only help them financially for the future but will also direct them towards helping themselves this year too. Disciplined savers…read more →

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