File Your 2013 Taxes by the October 15th Deadline
The 2013 tax extension deadline is less than a month away on Wednesday, October 15th. If you missed the first April 15th tax deadline and had to file an extension, you may be still procrastinating and will be rushing to make the final October 15th tax deadline. There’s no need to worry if you start […]
Business or Hobby? Tax Tips for Reporting Side Income
Millions of people enjoy hobbies that are also a source of income. Some examples include stamp and coin collecting, craft making, and horsemanship. You must report on your tax return the income you earn from a hobby. The rules for how you report the income and expenses depend on whether the activity is a hobby […]
Itemized vs. Standard Deduction
When we finish preparing a client’s tax return, sometimes he or she is confused about whether the medical expenses were deducted or if their charitable deductions applied. When preparing your tax return, you have a choice whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deductions using both […]
