Unsure if you should go with standard or itemize deductions?

Unsure of whether you should use the standard deduction amount, or take the time to itemize deductions? The answer is fairly straightforward; you should itemize deductions if your total deductions are more than the standard deduction amount. Also, you should…

Who Claims The Kids On Their Taxes, And Other Ways Divorce May Affect Your Taxes

Divorcing couples often wonder who claims the children on their taxes, and in what other ways divorce will affect their taxes. Questions may include which filing status to use after the divorce, and how payments for spousal maintenance and child…

To Be or Not To Be? Married Filing Jointly or Married Filing Separately?

Married couples have the option to file jointly or separately on their federal income tax returns. Undoubtedly, married couples during tax season have asked each other if they are filing advantageously, whether currently filing jointly or separately. The IRS strongly…