Archive for category: Tax Preparation

It might surprise you to learn that the average tax refund in 2023 was just over $2,800.

This can vary drastically, though, depending on certain circumstances, like your annual income.

It’s not uncommon for people with substantial tax obligations to file for extensions.

However, it’s essential to understand how these work so you can avoid potential complications.

We’ve put together a guide full of tips on how to manage an extension on taxes so you can hit the ground running.

Let’s explore the key information you need to know.

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Phoenix might be a hot place, but it feels a lot hotter when you’re struggling to get your taxes done.

So what’s the best way to get your taxes done on time, accurately, and efficiently?

Work with a Phoenix tax preparation expert!

Today we’re diving into the details of getting your taxes in successfully as a Phoenix area resident, and how utilizing the help of a pro can help make that happen!

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No one likes paying taxes, but we all need to.

As it stands, as many as 56% of Americans believe they pay more than their fair share.

The complicated nature of the tax system along with a huge range of variables can make things difficult for people.

If you don’t take the right approach, you may end up paying more in taxes than you actually need to.

With the help of a professional AZ tax service, you can ensure you pay the right amount and avoid overspending.

In this guide, we’ll go over some key tax optimization strategies that you can start using.

Keep reading for more.

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In 2023, legislation was passed that will give the IRS $80 billion in funding over the next 10 years.

This means the organization will have the resources to increase the number of audits they can conduct.

The last thing you want is to find yourself or your business on the receiving end of an IRS investigation.

Paying your taxes doesn’t have to be stressful, and many people choose to outsource to a tax accounting service to handle this obligation.

Before hiring a tax professional, though, there’s certain information you should keep in mind.

Let’s explore how to find the best tax services for your situation.

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Navigating taxes as a small business owner can feel like a minefield.

And for many, there’s nothing more daunting than facing an IRS audit.

While there’s no guaranteed way to prevent IRS audit, there are steps you can take to lower the risk of setting off those audit alarms.

In 2022, the IRS conducted over 700,00 tax return audits and found that $30.2 billion in extra taxes were owed.

Currently, the likelihood of being audited is slightly under 1%.

However, making mistakes or leaving things out might inadvertently raise red flags.

Inviting closer inspection from the tax authorities.

In this blog, we’ll discuss practical tips to keep your business safe from the audit spotlight.

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