Tag Archives: standard deductions

Options for Taxpayers Who Owe Taxes

Posted in Foster Tax Tips by Michael Foster on April 17, 2014

If you owe taxes but can’t pay in full, the IRS has options for you. Most importantly, make sure you file your tax return and pay as much as you can. Then let the IRS help you choose your best option to pay. Here are some options to consider,...

Itemizing vs. Standard Deduction: Six Tips to Help You Choose

Posted in Foster Tax Tips by Michael Foster on March 29, 2014

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When you file your tax return, you usually have a choice whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deductions using both methods. Then choose the one that allows you to pay the lower amount of tax. The one...