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Every Tax Deadline You Need To Know
By sherry@reedcompanies.com |
Written by Riley Adams, CPA • Reviewed by Miguel Burgos, CPA Updated for Tax Year 2022 • March 2, 2023 03:06 PM The Federal Emergency Management Agency (FEMA) declared certain regions in California, Georgia, and Alabama as federally declared disaster areas due to the disaster caused by recent storms and victims of these storms have until October 16, 2023,…
22 Legal Secrets to Reducing Your Taxes: Don’t miss these tax deductions and credits, which can add up to significant savings.
By sherry@reedcompanies.com |
By Maryalene LaPonsie Taxes may be an inevitable part of life, but most people would probably rather not hand over a portion of their earnings to the government. Fortunately, there are a number of completely legal ways to lower the amount you pay the taxman each year. These include credits, deductions and advanced investment strategies. Some…
Don’t Forget These Tax Changes as You Prepare Your 2022 Returns: For starters, the filing deadline isn’t April 15 this year
By sherry@reedcompanies.com |
By Tom Herman Tax Day is about two months away, and there are some changes taxpayers need to be aware of—ranging from this year’s filing deadline to tax breaks that have expired or shrunk. As a result of numerous changes, many people may be surprised by getting smaller refunds for 2022. Others who had been expecting…
February is a Great Time to File Your Taxes: Tax tips to make sure your money is working for you, not Uncle Sam
By sherry@reedcompanies.com |
When should you file your income tax? Generally speaking, the earlier, the better, after January 1st if you expect to get a refund. If you file by the end of February, you should receive your check within six weeks. But, if you delay and file in April when the Internal Revenue Service is inundated by…
Saving on Health Expenses and Reducing Future Taxes: Understanding the key savings and tax benefits of a Health Savings Account
By sherry@reedcompanies.com |
A Health Savings Account (HSA) is a type of savings account designed to help individuals and families save money on their health expenses and reduce their future tax bill. To be eligible for an HSA, you must be enrolled in a high-deductible health plan (HDHP), which is a type of health insurance that has a…
IRS Adjusts Tax Brackets to Account for Inflation: Shifts in tax brackets as well as the standard deduction slated for 2024
By sherry@reedcompanies.com |
On October 18, 2022, the IRS announced tax year 2023 adjustments for tax returns filed in 2024. From the IRS directly: “The tax items for tax year 2023 of greatest interest to most taxpayers include the following dollar amounts: The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700 up…