Professional Tax Services LLC

With the 2020 tax filing season...FINALLY... in the rearview mirror, now is the time to become aware of major changes for 2021. Here's what you need to know.

Test your tax knowledge with our trivia quiz. Also find out how to make paying bills less stressful and how small businesses can help one another until the entire economy returns to normal.

Many pandemic related tax rules are scheduled to fall off the books in 2021. Are you prepared?

The hot housing market is creating home sale gains beyond imagination. If selling a home, you need to know this tax rule.

An enhanced child tax credit is in place this year. This is what you need to know.

An established relationship with a tax professional who is familiar with your finances, your family, and your goals can prove to be invaluable. If you prepare your own returns, it's a good idea to let a professional preparer review your returns at least every three years. That's because you only have three years to amend a return to change any items of income, deductions, or credits that were reported in error or omitted on your original return. Have an expert look over your taxes! Contact us today! http://www.professional-taxservices.com/

Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.

The Social Security Administration recently announced their 2021 Cost-of-Living Adjustment (COLA) changes. Here is what you need to know.

If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS.

Find out if a tax trap is lurking in your paycheck and what to do with your 401(k) when switching jobs. Also read about business website mistakes and fascinating facts about your favorite fall gourd.

When does a tax benefit not become a tax benefit? When you assume you no longer need to keep track of something. This is the case with the home gain exclusion.

All too often taxpayers take action that will cost them dearly when they file their tax return. With a little planning, however, the IRS can still receive its fair share but not a dollar more. Here's what you need to know.

Did your paycheck seem a little higher? If so, it could be a tax time bomb.

If you have not already done so, please plan to make your second quarter estimated tax payment. The due date is Tuesday, September 15th.

Because our tax system is progressive, the next dollar you earn could be taxed at a much higher rate. By shifting taxable income levels from one year to the next, you could potentially pay a lower tax amount in both. Here are six great ideas.

Learn how to win the credit score game, explore different budgeting methods to find one that works for you and be more aware of common scams being encountered by the IRS.

Providing a gift of stock (or other property) to a friend or loved one can be a powerful tax planning tool. However, it is not without its complications.

As states create tax laws to capture revenue from non-resident individuals and small businesses, many are caught unaware of the changing state tax landscape. Make sure this doesn't happen to you.

Identity theft is reaching all-time levels. How can you protect your Social Security number from being stolen?

While Roth IRAs are funded in after-tax dollars, making a mistake on withdrawing funds could still subject you to tax and penalties on withdrawal of earnings. Here are some tips.