Are you pulling your hair out right now trying to figure out a tax deduction from a credit?  Or worse, do I need file a separate business tax form for your new LLC?  According to a recent NerdWallet survey, you are not alone.

Out of eight questions about IRS rules for common deductions, retirement, and education savings plans, taxpayers as a group got 25% correct.

If you are feeling frustrated or lost altogether, give your JMF CPA a call. And definitely, don’t fall into this common trap:  58% of survey respondents wrongly believed that a tax extension means they can delay paying their income tax by the due date.  Not true!!