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Keeping Your Informed with Financial News and Tips
No taxpayer wants to receive an audit notice from the IRS. While audits are relatively rare, certain red flags can increase the likelihood of scrutiny. Understanding these common triggers and taking proactive steps can help reduce your risk of an audit. 1. Report All Income Accurately One of the easiest…
Spring is the perfect time to declutter your financial life and set fresh goals. Just as you clean out your home, you can take steps to refresh your budget, eliminate unnecessary expenses, and create a stronger financial foundation. Tackle these spring cleaning steps to give your finances a boost. 1….
As the tax deadline approaches, there are still ways to make the most of your return. With a few strategic moves, you can reduce your taxable income and potentially increase your refund. Consider these last-minute steps before filing your taxes. 1. Contribute to Retirement or Health Savings Accounts If you…
Now that 2025 is well underway, it’s important to stay informed about tax updates that may affect your financial planning. With adjustments based on inflation, certain tax limits and deductions have changed, potentially impacting your budgeting, savings, and insurance strategies. Standard Deduction Increases The IRS has raised the standard deduction…
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