Transcripts and Tax Information
Dec07

Transcripts and Tax Information

The IRS recommends that you keep copies of your tax returns for your records. Preparing future tax returns, applying for loans, and applying for student financial aid are a few examples of when you may need copies of your filed tax returns. If you can’t find your copies of your tax returns, the IRS can provide you with one, or a transcript of the tax information you need. These are free requests you can order by phone, mail, or...

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Tax Deductions: Should You Itemize?
Dec03

Tax Deductions: Should You Itemize?

When deciding to itemize deductions or taking a standard deduction for the most benefit, it is important to figure your deductions using both methods first. Here are some tips to help you decide. Calculate Itemized Deductions. There are many types of deductions that qualify to be itemized. Common examples include home mortgage interest, gifts to charities, and un-reimbursed employee business expenses. Remember that special rules and...

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