Thanks for stopping by to learn how to get more back on your tax return, small business tax strategies, what to do when the IRS is aggressively pursuing you for unfiled taxes, liens, audits and more and how to keep more of your cash if you are affluent or a high net worth individual.
As a general rule, when trying to maximize your tax refund, remember deductions reduce your overall taxable income. On the other hand, tax credits can reduce your tax bill. Translation = YOU can increase your tax refund.
As a taxpayer you can choose to take a standard deduction or itemized deduction. Your choice, of course, will depend on whatever can get the biggest tax refund or biggest tax advantage. If you have a lot of medical bills, state and local taxes, property taxes, mortgage interest, or charitable donations, your best bet would be itemizing to get a larger tax refund check.
Many Americans, just like you, would like to get more of a tax refund/return. So, the million-dollar question is how do you get more on your tax return?
- Moving – Did you know when you move more than 50 miles for your job your moving expenses are tax deductible.
- Correct Filing Status - Choose this status wisely because you can increase your tax refund easily, especially if you’re married filing jointly.
- Deduct Student Loan interest – You can deduct up to $2,500.
- Deduct expenses for contributing to charity.
- Contraceptives bought with a prescription are even tax deductible!
Yes, there lots of ways to get a bigger tax refund. Continue here for more information.
Small Business Taxes
Small businesses can lower their taxes by concentrating on crucial deductions along with good old-fashioned tax planning. Without a doubt, taxes are an important issue that all small and growing businesses have to contend with at some point. Keep in mind, just like your business profits are a reflection of your knowledge, skills and hard work, so is your ability to handle your yearly tax bill. As a small business it is a balancing act to make sure you are paying what is owed to the taxman; however, at the same time it is imperative that you take every opportunity to reduce your taxes as well. Our goal is to provide you invaluable tax tips to ensure the government is not taking more than is owed. Continue here for more information.
Tax Attorney To Help With Liens, Levy’s, Audits & More
Whether you are an individual or business, you need someone who will fight for you to resolve disputes with the IRS. If you have a tax controversy (anytime you and the government disagree on issues concerning your taxes, you have a tax controversy), you most likely need representation. When might you need assistance: litigation, IRS audits, collections, criminal tax investigations, unfiled taxes or maybe you filed and can’t afford to pay, administrative appeals and the list goes on. If you have any of these problems, you need an attorney that speaks the IRS’ language. Continue here for more information.
High Net Worth Individuals/Affluent
Although the economic downturn has affected much of the developed world, some people have retained and also gained economic prosperity. You are a High Net Worth Individual when you possess $1 million in liquid financial assets or more. If you fit the description, having a first-rate tax planning strategy has never been more crucial. Why? The tax deck is stacked against high income and high net worth individuals and families. Continue here for more information.