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Month: May 2019

Standard Deduction or Itemizing? Which One is Better for 2019/2020

at 3:02 pm | Tax | Editor -

Before the new tax reforms, around 55% to 60% of American taxpayers were choosing to take the standard deduction instead of itemizing their expenses. Now that the law has changed, the standard deduction amount is nearly doubled from $6,350 in 2017 tax year to $12,200 for 2019 tax year (taxes due April 2020). The number

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“Standard Deduction or Itemizing? Which One is Better for 2019/2020”

Above-the-line Deductions 2019/2020

at 12:56 pm | Tax | Editor -

The American tax code can often times be confusing and filled with misinformation. A lot of taxpayers speculate that if they choose to go with the standard deduction, there aren’t any other available deductions they can take. This is the farthest thing from the truth as there are still some available deductions you can take

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“Above-the-line Deductions 2019/2020”

Refund Status 2020

at 11:32 am | Tax | Editor -

Another tax year is finished for the majority of the taxpayers. This tax year and the last one was very beneficial for low and middle-income taxpayers with a doubled standard deduction and with a few doubled credits. Paying less tax means less tax liability and therefore you are highly likely to receive a refund from

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“Refund Status 2020”