Tag: accounting wilson nc

DON’T PLAY THE FOOL

Happy April Fool’s Day! Don’t play the fool. It is already the first day of April. The day may be filled with jokes, but not filing your personal income taxes is not one of them. Many people have already filed their taxes. Others are having them prepared, but some have put off dealing with them. […]

PROCRASTINATORS, START YOUR ENGINES!

For those of you procrastinators who haven’t begun on your taxes, you will need to file an extension. Almost all of you will need to file a form (4868) to get additional time for your taxes. Your CPA or tax preparer can file that for you or you may be able to do so yourself. […]

THE INCREDIBLE SHRINKING TAX REFUND

  Many are waking up to a new reality: The shrinking tax refund. News reports, articles and internet postings are bemoaning lower refunds after filing taxes this year. As you may know this is the result of a number of factors with the new tax laws. Although the standard deduction is higher for singles and […]

STANDARD OR ITEMIZED DEDUCTIONS?

Will you take standard or itemized deductions for the 2018 tax year? You can also deduct the interest you pay on mortgage loan from your taxes but the limits have changed. For couples filing jointly you can deduct interest up to $750,000 instead of the allowable $1 million in 2017. If you are married taxpayers […]

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