However, timing matters. Rob Burnette, investment advisor representative at Outlook Financial Center, points out that selling gold stocks within a year means your profits get taxed as ordinary income instead of at the lower long-term capital gains rates.
"Those are the big items that factor into your itemized deductions, and if you've got enough to benefit, then by all means take it," said Rob Burnette, investment advisor and professional tax preparer at Outlook Financial Center.
Having private investments in 401(k)s and other defined-contribution plans would require greater education for plan participants and put a greater burden on plan sponsors to provide such training, said Rob Burnette, financial adviser and CEO of Outlook Financial Center.
For many taxpayers, though, "the amount of taxable interest on savings accounts is small," says Rob Burnette, a tax preparer at Outlook Financial Center in Troy, Ohio.
“If you are not comfortable with technology or have a more complex return, free file is probably not for you,” said Rob Burnette, investment advisor representative at Outlook Financial Center. “Engaging a professional tax preparer would probably be in the taxpayer’s best interest.”
Rob Burnette shares with News 5 Cleveland viewers what the recent ban on junk fees means for them.