Tax Information for Individuals

Outlining the Trump Tax Plan

As a candidate in 2016, Donald Trump promised significant tax reform. A few months after becoming President, Trump released a one-page outline of his goals in that area. As the year goes on, we will see many discussions and changes to the plan. This is a review of the original outline, showing the major areas that will be addressed.  Taxes on Businesses President Trump … [Read more...]

How to Deal With an IRS Audit – Don’t Go it Alone!

According to the IRS, less than 1% of all individual income tax returns are audited each year. While that is good news for most people, some taxpayers are more vulnerable than others. For starters, the IRS is more likely to audit taxpayers who report high incomes because that’s where larger amounts of underpaid taxes might be found. The latest numbers from the IRS … [Read more...]

Great Career Opportunity for Senior Tax Accountant

June 28, 2017 - Senior Tax Accountant Needed! Carpenter, Evert and Associates has a unique job opening for someone who is focused on career advancement and skill development in the tax accounting field. We are looking for a bright, enthusiastic person who knows his or her own potential and needs the right environment to flourish. This is a real opportunity for career … [Read more...]

The Home Office Deduction – Simplified

If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify you can claim the deduction whether you rent or own your home. Now you can use either the simplified method or the regular method to claim your deduction. Here are six tips that you should know about the home office deduction. Regular and Exclusive … [Read more...]

IRS Warns of New Phone Scam

IRS warns of new phone scam involving bogus certified letters; reminds people to remain vigilant against scams and schemes this summer. The IRS has published a warning about new tax scams that are circulating this summer. Most of the scams still involve phone calls from people pretending to be IRS reps, but there are new twists this summer.  Contact Carpenter, Evert and … [Read more...]

Do You Need Professional Tax Help?

Not sure if you need professional tax services? Answer yes or no to these questions to find out if you need professional help: Have you had a major life change this year? Think marriage, divorce, new baby or college. Did you buy or sell a home, or move to a new state this year? Did you receive investment income this year? Or did you lose money on investments? … [Read more...]

Plan Now for Next Year’s Taxes

Seven Great Ways to Be Ready for Next Year's Tax Season. Most people stop thinking about taxes after they file their tax return. But, there's no better time to start tax planning than right now. And, it's never too early to set up a smart record keeping system. Here are six tips to help you start to plan for next year's taxes: 1. Take action when life changes occur. … [Read more...]

The 2016 Tax Season by the Numbers

135.6 million The number of tax returns the IRS has received as of April 18. 17 million Procrastinators who waited until the last 24 hours before the due date to file.    Why do people wait until the last minute to file their taxes? $268.3 Billion The amount of tax over-paid by Americans through 2016, resulting in 97 million refunds. $2,763 The average tax … [Read more...]

You’re Late! What to Do if You Haven’t Filed Your Taxes

Tax day has come and gone, and there are still some people who haven’t filed their returns or extensions. There is one important thing to know if you haven’t filed your taxes yet – file them as soon as possible, EVEN IF YOU CAN’T PAY ALL THE TAX YOU OWE. The IRS can apply two different penalties for late filers/payers. The first is a failure-to-file penalty for not … [Read more...]

Can’t Get Your Taxes Done by April 18?

If you panic when you think about April 18, it’s probably due to one of two reasons: 1. You don’t have enough time to get your taxes done and filed on time, or 2. You don’t have enough money to pay the taxes you owe. If either of these applies to you, the most important thing to remember is, DON’T PANIC. And don’t ignore it. The worst thing you can do is not file … [Read more...]