by Bill Houston | Jan 13, 2021 | General Tax Info
Now that we have the results of the elections, I think we can say with certainty that taxes will rise. Democrats now have thin control of the Senate and the House along with the Presidency which will allow Biden to pass at least some of his proposals. Here are some of...
by Bill Houston | Nov 2, 2019 | General Tax Info
Many believe that returns filed later in the season are less likely to be audited. That’s an urban legend. All returns, whenever filed, are scanned for arithmetic errors and scored against top-secret internal algorithms. The higher the score, the more likely the...
by Bill Houston | Jan 21, 2019 | General Tax Info
WE REVIEWED THE NEW TAX LAW AND THINK WE HAVE LISTED THE CHANGES HERE THAT AFFECT MOST PEOPLE. THIS IS NOT A COMPLETE LIST, JUST THE ITEMS THAT I THINK MOST PEOPLE WILL SEE. OUR RATINGS REFER TO THE EFFECT ON TAX LIABILITY. IF CHANGE COULD RAISE TAXES, IT IS POOR...
by Bill Houston | Jun 27, 2018 | General Tax Info
Well they promised a postcard sized tax form and they delivered but it may result in a bit of confusion. A draft form leaked to the NYT shows that a number of above-the-line deductions are no longer on the form. I don’t see educator expenses, health savings...
by Bill Houston | Feb 22, 2018 | General Tax Info
Many are concerned that filing an extension can cause a red flag or increase chances of an audit. That is simply not true. Extensions are used all of the time by families, individuals and businesses. If the gathering of your paperwork is rushed or if you really...
by Bill Houston | Oct 22, 2017 | General Tax Info
In previous seasons, processing of tax returns without the health care coverage box checked slowed down processing of returns but it didn’t halt processing. In many situations, the taxpayer received a letter asking for payment of the health care penalty or...
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