April 2021

When filing your tax return, you have two options: take the standard deduction, or itemize your deductions. The choice you make depends on which you believe will generate the largest tax return, or resultin the smallest amount of money owed to the government. There are some advantages and disadvantages associated with taking the standard deduction. …

The Pros and Cons of Taking the Standard Deduction Read More »

For the second year in a row, the U.S. Treasury Department and Internal Revenue Service extended the tax filing deadline for individuals, due to the COVID-19 pandemic. The federal income tax filing deadline for individuals for the 2020 tax year is now May 17, 2021, rather than April 15, 2021. According to IRS Commissioner Chuck …

Tax Deadline for 2021 Has Been Extended Read More »