This Month's Newsletter

December 2017

2019 Tax Amount Updates

For 2018, the standard deduction for a single individual is $12,000 and for a married couple is $24,000. A person will benefit by itemizing once allowable deductions exceed the applicable standard deduction. Itemized deductions include state and local income taxes (or...

IRS Audit Rate Decreases in 2018

Continuing a downward trend from the past year, 2018 saw 7% fewer IRS audits of tax returns than the amount that were audited in 2017. 150 million personal tax returns filed for the 2017 tax year.  Of that amount 892,000 were audited representing only 0.59% of all...