Paramount Tax Blog

Latest news from Paramount

COVID-19 Update: Taxes

Posted on Mar 16th 2020

In view of the pandemic that is gripping the world, Paramount is adjusting in ways that will still allow our clients to take care of their tax preparation needs in your area.

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Featured Articles January 2020

Posted on Jan 1st 2020

Every year, it's a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here's a checklist of tax changes to help you plan the year ahead.

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Featured Articles December 2019

Posted on Dec 1st 2019

The standard deduction for married couples filing a joint return in 2019 is $24,400. For singles and married individuals filing separately, it is $12,200, and for heads of household, the deduction is $18,350.

The additional standard deduction for blind people and senior citizens in 2019 is $1,300 for married individuals and $1,650 for singles and heads of household.

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Featured Articles November 2019

Posted on Nov 1st 2019

With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for 2019.

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Featured Articles October 2019

Posted on Oct 1st 2019

Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that culminates in signing your return and finding out whether you owe the IRS money or will be receiving a refund.

For most people, tax preparation involves one or two trips to your accountant (CPA), generally around tax time (i.e., between January and April), to hand over any financial documents necessary to prepare your return and then to sign your return. They will also make sure any tax reporting on your return complies with federal and state tax law.

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