Tax Deductions for Educators – A helpful tip for our beloved teachers
Although most (74% in 2020) American taxpayers receive a refund each year when they file their income tax returns, there are those who for one reason or another end up owing.
A Quick Look at Inheritance Taxes Proper planning can help prevent unexpected outcomes. Things you need to know about Inheritances Inherited traditional IRAs are generally taxable to a beneficiary.
Extra help for families when filing 2021 tax return Important Enhancements to the Earned Income Tax Credit for 2021.
People Are asking, “Will Working From Home During Covid-19 Save Me Money On My Taxes?” Most people know that the best way to reduce your tax liability is through deductions and tax credits. Even if you … Read More
Some taxpayers go the old route of filing paper tax returns. This is a great time to implement electronic filing. Since the April tax deadline is very close, this is the as good a time as any to e-File with the IRS. This blog lists 5 reasons why you should e-file your income tax return soon.
Do you have a year-end tax strategy? Year-end and the holidays are just around the corner. It is time to think about what you can do at the last-minute to improve your tax situation. Year-end tax planning is probably something you will want to deal with before the holiday season crush. Here are some tax tips and a year-end tax strategy to help you.
When looking over your tax return, do you notice an amount on line 45? That amount is because you are subject to the alternative minimum tax. The Alternative Minimum Tax or AMT is an income tax that does not allow some of the tax preferences and deductions that regular tax computation allows. Basically, a punitive tax. When an AMT computation results in a higher tax, the higher tax applies. The additional tax from the Alternative Minimum Tax is added on line 45 of your return.
Have you changed your address lately? You may want to keep these things in mind to make sure you receive your refunds or information from the IRS. This is true for your home or business address. … Read More
Do you have unpaid debt? As the tax season approaches, you may be get excited about your potential tax refund. But you never thought your unpaid debt would take a chunk out your tax refund. That … Read More