One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors that can influence a taxpayer’s choice, including changes to their tax situation,
Tax tips for gig economy entrepreneurs and workers
In recent years, the gig economy has changed how people do business and provide services. Taxpayers must report their gig economy earnings on a tax return – whether they earned that money through a part-time, temporary or side gig. The
IRS announces tax relief and filing extensions for California storm victims
California storm victims now have until May 15, 2023 to file returns and make tax payments that were normally due between January 8 and May 15, 2023. This includes: The IRS automatically provides filing and penalty relief to any taxpayer