IRS Audit Red Flags: 18 Triggers That Increase Your Odds of Being Audited
Filing taxes comes with inherent anxiety about triggering an IRS audit. While statistically, the odds of being audited by the IRS remain below 1% for most taxpayers, certain financial behaviors and reporting patterns can dramatically increase your IRS audit chance. Understanding these red flags is crucial for anyone looking to file confidently while minimizing unwanted scrutiny from tax […]
Discover 100+ IRS-Approved Tax-Saving Strategies to Maximize Your 2025 Refund
Are you worried about overpaying on your taxes this year? With tax season approaching fast, it’s easy to feel overwhelmed by the sheer number of strategies out there. But don’t worry, I’ve got you covered. In this blog, we’re diving into 100+ IRS-approved tax-saving strategies designed to help you keep more of your hard-earned money. […]
Biden Proposes Doubling Capital Gains Tax: What This Means for Your Taxes
If you haven’t heard yet, President Biden’s latest $7.3 trillion budget for FY 2025 is making headlines with some major tax changes. The President is pushing for a nearly doubling of the capital gains tax rate, along with a new minimum tax on billionaires and a hike in Medicare taxes. While the White House is […]
Start Now or Regret Later: 5 Simple Steps to Boost Your Tax Refund for Next Year
Now that the tax deadline is behind us, it’s easy to push taxes to the back of your mind. But here’s the thing – the best time to start planning for next year’s refund is right now. I know taxes aren’t exactly fun to think about, but taking a few proactive steps today can make […]
US Presidential Election 2024: Are Political Donations Tax Deductible?
As we gear up for the 2024 presidential election, something intriguing is happening: a surge in political donations, especially from new contributors. Just last month, when President Biden unexpectedly stepped down from the 2024 race and backed Vice President Kamala Harris for the Democratic nomination, the Harris campaign saw an explosive fundraising boost. Within hours, […]
US Lawmakers Criticizes Trump’s Plan to End Social Security Taxes, Calls It a ‘Fatal Mistake’
It’s a bold claim that former President Donald Trump recently put forward: ending taxes on Social Security benefits. On July 31, he took to social media to declare that “Seniors should not pay tax on Social Security,” a sentiment he echoed during an August 7 interview on Fox & Friends. As a tax professional, I’ve […]
US Presidential Election 2024 Showdown: How Trump or Harris Could Affect Your Tax Bill
As we approach the next presidential election, tax policy remains a hot topic. Both former President Donald Trump and Vice President Kamala Harris have outlined their economic plans, but there’s a fresh twist with Senator JD Vance’s bold new pledge to enhance the Child Tax Credit (CTC). This proposal could significantly impact millions of families […]
Enhanced Child Tax Credit: Senator JD Vance Proposes in Bold New Pledge
In a surprising turn of events, Senator JD Vance is back in the spotlight, this time pushing for a significant boost to the federal child tax credit (CTC). Just weeks after skipping a crucial Senate vote that could have enhanced the CTC—a move that drew criticism—Vance is now advocating for a 150% increase in the […]
How to Claim Social Security Spouse’s Benefits: A Complete Guide
Social Security benefits play an essential role in financial security during retirement. While many people qualify for their own benefits, others may be eligible to receive benefits based on their spouse’s work history. If you have limited work credits or your personal Social Security benefits are lower than your spouse’s, you might be able to […]
Understanding the 2025 Capital Gains Tax Rules and Rates
Tax policies shift every year, and 2025 is no different. If you invest in stocks, real estate, or other assets, knowing how capital gains taxes work can make a big difference in what you owe. While some rules remain the same, there are a few updates you should be aware of when planning your finances […]