Take the Standard Deduction or Itemize?

Whether you choose to complete your tax return this year by hand, the old-fashioned way, with a multimedia interactive software package online, or by enlisting the help of a licensed tax professional, you need to be aware of the tax deductions and credits that are available to you.
Most taxpayers do claim their exemptions, and according [...]

Tax Preparers Cracking Down

Burden for preparers
Tax preparers may start being tougher in asking you to prove your entitlement to certain deductions. This is because a law was recently passed that requires these professionals to help weed out tax dodgers. This may result in increased paperwork and greater fees to some taxpayers since a longer amount of time will [...]

Tax Refund Anticipation Loan – Consumer Advisory

This tax season 10% of Americans will let someone borrow them their own money through a tax refund anticipation loan.  Rates might be as high as 744%.  A rapid refund is just your income tax refund given to you on the spot by your tax preparation service- usually within 1-2 days.  Rather than waiting for [...]