Have you ever wondered how your tax preparer comes up with the end result of the taxes owed or refund due on your tax return? Well, one very important factor is the Standard Deduction or Itemized Deductions. All taxpayers have the option of either taking the standard deduction or itemizing their receipts on their tax return. If you itemize it’s because you paid out real estate taxes, property taxes, medical & dental expenses, and a [...]

It’s getting close to that dreadful time of year, tax season!! There has been a lot of doubt with this upcoming tax season because a lot of the tax credits and laws that were in place during the Bush era were due to expire in 2010 and although some were extended, many were not. As a tax professional I feel it’s my duty to educate the public on such changes, therefore, during this week I’m [...]