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If You Want to Benefit from These Last-Minute Tax Breaks – You Must Act Now!

by Tracey Hrica, EA Dec 20, 2019

The year 2019 is coming to an end, but if you act now, there are a few ways to lower your 2019 tax liability.We are now into the second tax filing season under the Tax Cuts and Jobs Act.  Most of us have discovered we are no longer itemizing.  Since the new law just about doubled the standard deduction($12,200 for singles and $24,400 for married-filing jointly in 2019), itemized deductions are out of reach for many filers. Other write...

Top 3 Ways to Cut Overhead and Save Money in 2020

by Tracey Hrica, EA Dec 11, 2019

According to Vinnie Fisher, CEO of Fully Accountable, while there is only a little bit of time left in the year 2019, there is no time like the present to plan your business’s course of action for 2020. By focusing on making just a few small changes, rather than trying to reinvent your business altogether, you may be able to increase your current operating margins by 5 percent or even more. Taking the time to make just one of these ch...

I’m Getting a Refund…and I Want it Fast!!!

by Tracey Hrica, EA Dec 09, 2019

Everyone wants to get their tax refund fast.  As the 2019 tax filing season approaches, we want to remind you that some returns require additional review, and those refunds may take longer.  However, filing electronically, as well as using direct deposit can help you get your refund as quickly as possible Many factors can affect the timing of your refund Just as every tax return is unique and individual, so is each taxpayer’s refun...

Coaching a Football Team

by Tracey Hrica, EA Dec 07, 2019

My husband Ken is a die-hard football fan. So, about 6 or 7 years ago, I decided I wanted to get involved in fantasy football  so that I could share in his hobby.  You can say that I got hooked.  We both belong to multiple, year long fantasy leagues, and are addicted to Draft Kings…although Ken’s idea of a big bet is $.25, but that’s another story.  We’ve both made the playoffs in our main league, so there is a little less p...

How Much Does it Cost to Raise a Child?

by Tracey Hrica, EA Dec 04, 2019

How much does it cost to raise a child? Based on figures from 2015 shown on the infographic below - $233,610!! Luckily, the U.S. tax code offers a variety of tax breaks for parents. Here’s a look at the most popular ones. Child Tax Credit: This tax break was expanded under the Tax Cuts and Jobs Act (TCJA). Starting with the 2018 tax year, the new law increased the Child Tax Credit (CTC) from $1,000 to $2,000. Since it's a credit, ...

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