by Sal Schibell | Jul 20, 2022 | News, Tax Tips
Charitable contributions are a great way to give back not only to your community, but to yourself around tax time! The IRS allows taxpayers to itemize charitable contributions in order to write them off–in most cases, you’re allowed to write off up to 60% of your...
by Sal Schibell | Jul 20, 2022 | News, Tax Tips
The IRS doesn’t require every citizen to file come tax time. It depends on your age, filing status, income level, and the source of your income. You can refer to the below table to see if you meet the requirements for filing a tax return. Filing Status Age As Of The...
by Sal Schibell | Mar 10, 2022 | News, Tax Tips
TurboTax is a popular choice for many every tax season, and while you may be drawn to the low entry price and quicker turnaround time, keep in mind that you get what you pay for, and you could end up regretting using it in the long run. TurboTax Can Be Confusing For...
by Sal Schibell | Mar 10, 2022 | News, Tax Tips
If you’re itemizing your deductions this year, you might want to speak to a licensed CPA like LRSCPA. Let us give you a few tips for free! Bunch Your Deductions When your total tax deductions exceed the standard deduction ($12,550 for single filers and $25,100 for...
by Sal Schibell | Jan 17, 2022 | News, Tax Tips
As it is with anything new, the IRS is playing catch up and trying to figure out the best way to handle income gained through the sale and trading of cryptocurrency. If you traded on any crypto market in 2021, your 2021 tax return might look a little different this...
by Sal Schibell | Jul 14, 2017 | Tax Changes, Tax Tips
Building owners who have made energy efficiency improvements to their properties can utilize the statute of limitations for amending tax returns to receive immediate tax deductions under the Energy Efficient Commercial Buildings Tax Deduction, commonly called the...
