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Tax Focus

Mistakes on your tax return could lead to an audit

by Nathaniel Sillin You’re not alone if your heart pounds when you see a letter from the Internal Revenue Service (IRS) in your mailbox. While some lucky filers get sent a letter because they’re due a larger refund, most of us fear the worst: an audit. Those fears may be largely unfounded for the average household. Only about 1 ...

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Building prosperity for working families at tax time

by Scott Anglemyer Kansas Center for Economic Growth Economists don’t agree on much. As George Bernard Shaw said, “If all the economists were laid end-to-end, they’d never reach a conclusion. ” One of the few things that most economists agree on, however, is that the Earned Income Tax Credit is an example of smart policy. The ...

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Common tax mistakes to avoid in 2018­

Life changes - getting married, having a baby, buying or selling a home, sending a child off to college or retiring - often come with changes to your tax situation. ...

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Important items to gather for your tax preparer

For many working Americans, April 15 is synonymous with taxes. But taxpayers may be happy to learn that they have two extra days to file their returns in 2018. That’s ...

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How the tax reform plan could affect you

With the newly passed tax reform bill, the Tax Cuts and Jobs Act (TCJA), now is the time to start thinking about how this will affect you so that you can plan ahead for the outcomes you will start to feel in your paycheck as early as February 2018. ...

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Practical and fun tips for using your tax refund

It’s that time of year again when you may find a little bit of extra money in your pocket, thanks to your annual tax refund. ...

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Be aware of identity theft when it comes to taxes

by Derek Schmidt Kansas Attorney General It’s hard to believe, but tax season is once again upon us. Many of you have probably already received forms in the mail or electronically and have started working on your tax returns. As the filing season gears up, we mark this week, Jan. 30 through Feb. 3, as “Tax ...

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New GOP tax bill will change routine for some

The Tax Cuts and Jobs Act, the Republican tax plan on the brink of becoming law, could change the way over 27 million U. S. taxpayers file their taxes. Are you one of them? While the plan might not lead to the postcard-sized tax filings Republicans once touted, it will encourage more taxpayers to opt for the standard deduction. According to ...

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Beat the tax man with long-term care insurance

You may not be able to avoid taxes altogether, but wouldn’t it be great if there were a way to enhance your lifetime financial security that was also tax-advantaged? There is. Long-term care (LTC) planning using long-term care insurance offers some unique tax advantages. Premium ...

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Building prosperity for working families at tax time

by Scott Anglemyer Kansas Center for Economic Growth Economists don’t agree on much. As George Bernard Shaw said, “If all the economists were laid end-to-end, they’d never reach a conclusion. ” One of the few things that most economists agree on, however, is that the Earned Income Tax Credit is an example of smart policy. The ...

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