Most people file their tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. This year, there are a few new rules for some who must file. Following are six tax tips to help you determine […]
Continue readingThere are many reasons you may need to obtain a copy of your tax information from a prior year. You may need it when applying for a home mortgage, credit card or student loan. If you don’t have your copy, it’s easy to get a free transcript from the IRS. Tax Return Transcript. A return […]
Continue readingNew and existing small employers who do not yet benefit from the Small Business Health Care Tax Credit should look into whether the tax credit can help provide insurance to their employees. For tax years beginning 2014 and after, the maximum credit is 50% of premiums paid for small business employers, and 35% of premiums paid […]
Continue readingThe Internal Revenue Service announced the opening of the 2015 filing season. The IRS Free File program, available at IRS.gov, opened Friday, and the IRS will begin accepting and processing all tax returns on Tuesday – January 20th. Taxpayers have until Wednesday – April 15th to file their 2014 tax returns and pay any tax […]
Continue readingThe Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Following are the three big categories that are covered, each with a different amount of money per mile. Beginning on January 1, 2015, the standard mileage rates […]
Continue readingUsing the correct filing status is very important when filing your tax return, it can affect how much you pay in taxes and may even affect whether you must file a tax return. When choosing a filing status, keep in mind that your marital status on Dec. 31 is your status for the whole […]
Continue readingThe IRS reminds newlyweds to add a health insurance review to their to-do list. This is particularly important if you receive premium assistance through advance payments of the premium tax credit through a Health Insurance Marketplace. If you, your spouse or a dependent gets health insurance coverage through the Marketplace, you need to let the Marketplace […]
Continue readingNo need to worry if you made a mistake on your tax return or forgot to claim a tax credit or deduction, you can fix it by filing an amended return. Following are 10 things you should know about amending your federal tax return: 1. When to amend. You should amend your tax return if […]
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The IRS is reminding individuals and businesses making year-end gifts to charity that important tax law provisions have taken effect in recent years. Following are some of the changes to keep in mind.
Continue readingEven though only a few weeks remain in 2014, you still have time to act so you aren’t surprised at tax time. You can take steps now to avoid owing more taxes or getting a larger refund than you expect. Following are some actions you can take now to bring the taxes you pay in […]
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