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When new tax legislation is proposed or expected to be introduced, economists, think tanks, journalists, tax policy experts (and really, anyone with an opinion) begin disseminating information regarding how the legislation will impact taxpayers. I am always skeptical of expressing opinions on new tax legislation because it is a moving target. The Biden tax plan… [Read More].

2018 tax cuts and audits

Hiring a quality tax professional is becoming increasingly important. Most informed taxpayers are aware that the Tax Cuts & Jobs Act, which went into effect in 2018 cut Treasury’s revenue by billions of dollars. Given that over 90% of the federal government’s revenue is generated by the IRS, and that government expenditures only appear to… [Read More].

Are you audit target

Having a tax return selected for audit is probably on the top five list of things most people would rather avoid. . .but is it avoidable? Many taxpayers believe that audits are random and that their own individual risk of being audited is low based on articles that float around the internet and the taxpayer’s… [Read More].

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