October 12, 2020 on ForYourBenefit, host Bob Leins, CPA® welcomes Tom O’Rourke, Esquire, Miles & Stockbridge, PC. Perhaps the most common question I get when I teach a seminar is what steps can I take to reduce my income tax liability and stay out of trouble with the IRS. The first step for any Federal employee is to look at your Federal benefits package as a tool to help you reduce taxes.
Tax saving tools available to all Federal employees
Consider whether it makes more sense for you to itemize deductions or to claim the standard deduction
Limitations imposed by the 2017 Tax Act
What to do if you don’t have the money to pay your taxes when they are due
Out of concern for everyone’s safety, the host and guest will hold this discussion from remote locations.