A Guide to the Domestic Production Activities Deduction

In the 2021 tax year, the average income tax refund was $3,039. While splurging on a stellar vacation or a shopping spree may seem like an option, it's not the best option. In fact, there are a...

Whether you're a business owner or an individual, it's completely normal to request more time to file your federal income tax return. In fact, over 10 million taxpayers request tax extensions each...

The hustle, the fear, and the anxiety — it must be tax season. And if you experience any or all of these symptoms, you may be suffering from tax phobia or IRS phobia. While cynics may smirk at the...

While filing taxes as early as possible is generally the right thing to do, this year may be the time to wait. Tax season in 2020 was chaotic to say the least, and while 2021 seems to be back on...

It can be difficult to understand the difference between FSA and HSA accounts. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) both offer tax advantages and can help individuals...

Contrary to popular belief, what you don't know can hurt you, especially when it comes to tax deductions you may have missed for your business. Failing to capitalize on all of the tax deductions you...

At the MB Group, one of the most common questions we receive during tax preparation is whether a business owner or individual should choose standard vs itemized deductions on their tax returns. The...

For millions of Americans, April 15th (tax day) brings confusion and anxiety. Dealing with the IRS can be unnerving, and even a minor error on your tax return can mean audits, fees, and penalties. If...

The 1031 exchange is a powerful tool that can help you save immensely on taxes following the sale of a property. It's a tax-deferral program that allows you to sell a property and then reinvest the...