Tax Preparation

WARNING: IRS Audits Rapidly Increasing…
How Confident Are You That Your Return is Accurate?
Could You be Missing Potential Deductions?

10 million tax payers missed out on a chance to get a bigger refund last year simply because they neglected to fill out one line on their tax return. Will you miss a similar opportunity this year?

Today’s tax laws are increasingly complicated and the rules for deductions and credits change year by year. Are you aware of all the deductions and credits that might be available to you this year, even on the most basic of tax returns? Perhaps you feel secure in your do-it-yourself tax preparation software, but let’s face it… There is no substitute for an experienced tax professional who can answer your questions and ask you the questions that might be key to saving you tax dollars.

With our tax return services you get:

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Assurance that your return has been checked and double-checked for mathematical accuracy and errors that are commonly flagged by the IRS, resulting in fewer chances for contact by the IRS.

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Tips for better managing your payroll withholding so that you can have the advantage of greater income all year long, rather than loaning that money to the government and waiting for it to come back in the form of your yearly tax return.

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A list of common deductions that may benefit you in the coming year, and tips for limiting your future tax liability.

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Electronic filing for a quicker refund.

New IRS Tip Deduction Rule: Is Your Job on the OBBB Act Tipped Occupations List?

Understanding The New OBBB Act Tipped Occupations List If you work in an industry where tips are a regular part of your income, there’s big news for you. Under the new OBBB Act, a special tax deduction will be available for certain tipped occupations — but only if...

Education Savings & Taxes: 529s and Credits.

Essentials - 529 plan: Tax-deferred growth; tax-free withdrawals for qualified education; beneficiary can be changed within family; limited K-12 tuition allowed. - Credits: AOTC: Up to $2,500 per eligible student; income limits; partially refundable. Lifetime Learning...

Selling Your Primary Home: $250k/$500k Exclusion Explained

Key rules - Exclusion: Up to $250k (single) / $500k (MFJ) of gain - 2-of-5 test: Own and use as main home for 2 of the last 5 years - Frequency: Generally once every 2 years - Depreciation recapture: Prior rental/home-office depreciation is taxable - State note:...

The IRS Is Watching “Cash-Only” Businesses

What attracts scrutiny? Cash-heavy businesses (restaurants, salons, contractors, convenience stores) show higher underreporting risk. Examiners reconcile POS → bank deposits → books → tax return and flag gaps. Typical red flags Large cash deposits without matching...

Guía práctica para comprar tu vivienda en EE. UU. 🏡

Comprar casa es una de las decisiones financieras más importantes y los bancos analizan mucho más que tu deseo de tener un hogar. En Wave Tax te guiamos paso a paso para que llegues listo a tu hipoteca. 1. W-2 o 1099: ¿qué piden los bancos? Empleados W-2:...

El arte de pagar menos impuestos (legalmente)

Pagar menos impuestos no es “esquivar” al IRS: es planificar con reglas en mano. La clave está en tomar decisiones antes del 31 de diciembre, documentar todo y usar las deducciones y créditos que la ley ya permite. Aquí van los pilares que más suelen mover la aguja:...

¿Moviste cripto en 2025? El IRS ya lo sabe (y así debes reportarlo)

Desde 2025, los brokers y exchanges que custodian cripto reportan al IRS los ingresos brutos (gross proceeds) de ventas y permutas mediante el Formulario 1099-DA. A partir de 2026 se irá incorporando por fases el reporte de base y ganancia/pérdida con alivios de...

3 Legal Deductions You’re Missing Out On.

3 Legal Deductions You’re Missing Out On Are you one of those who say: “My accountant takes care of that”? That’s the problem. Your accountant files… but you are the one who plans. And if you’re not planning properly, you’re losing money.Literally. There are 100%...

The IRS Warns about the Second Quarterly Tax Payment Deadline: Details and Consequences for Taxpayers

The US Internal Revenue Service (IRS) issued a crucial reminder to millions of taxpayers about the second quarterly tax payment deadline, which was June 16. This notification was especially important for self-employed workers, small business owners, and all citizens...

Report: “Forgotten” 401(k) Accounts Can Cost Thousands of Dollars in Retirement Savings

With increased job turnover following the “Great Resignation,” more workers are losing track of their 401(k) accounts from previous jobs, resulting in significant costs in fees and lost long-term financial growth. According to data from Capitalize, in 2023 there were...

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