Category

Tax

Tax Deductions You Won’t Believe

While Americans are entitled to take every legitimate deduction to manage their taxes, the Internal Revenue Service (IRS) places limits on your creativity. Here are some examples of deductions from…

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Red Flags for Tax Auditors

No one wants to see an Internal Revenue Service (IRS) auditor show up at their door.  The IRS can’t audit every American’s tax return, so it relies on guidelines to…

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What Is a 1035 Exchange?

According to the most recent information available, Americans have individual life insurance with a total face value of $12.4 trillion.1 Due to a variety of factors, these individuals may find…

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How Income Taxes Work

The Internal Revenue Service estimates that taxpayers and businesses spend 8.1 billion hours a year complying with tax-filing requirements. To put this into perspective, if all this work were done…

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