Tag Archives: schedule A

Do Your Own- or Get Help?

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So, if your income tax preparation involves a few W-2 (salaried income), 1099s for interest and dividends and capital gains, even a 1099B for stock transactions (NOT Crypto, nothing more than 5 transactions), then you should be doing your own taxes.  Because a professional is going to have charge way more than you want to pay to prepare your taxes.  And, the professional won’t be able to come up with a lower tax bill than you could by yourself.

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We covered death. Now, it’s time for taxes.

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You know the tax law has changed. And, for many of you, that means that itemizing is no longer an option.  (If you are married, the threshold of deductions needed to itemize went from $ 12K to $ 24K- and you are limited to $ 10K for the TOTAL of your property taxes and state/local income taxes.  Of course, you could do as I have done for many a client- filed separately for the first time in decades.  Where the threshold is $ 12K- and you still have that 10K max for property/state/local taxes….)

Continue reading We covered death. Now, it’s time for taxes.

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HR 1, too!

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We began discussing the proposed changes to personal tax filings yesterday.  We’ll finish with the changes to the individual tax system today-and then go on to the changes to the business tax filings.

Continue reading HR 1, too!

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HR 1

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Let’s reiterate what I said yesterday– I don’t expect this bill to pass.  Certainly not the way it was presented in the bill.  These posts were written on 2 November- when the bill was published.  Since then, the House has proposed changes to its own bill.  And, 1 week later, the Senate published a slightly different version- which means that I will be adding to this series to contrast the differences between the two bills.  (This series that was 5 blogs will now be 7.)

Continue reading HR 1

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