October 15th Extention Deadline
Many taxpayers are on an extension for the 2011 taxes – read below for information from the IRS. Feel free to contact our office should you have any questions! (614) 743-2120
Continue readingAll Posts by Suzanne Shively
Eight Facts about Amended Returns
Below is information the IRS publishes regarding amending of a return. Remember that if you are amending to receive more of a refund, you need to wait until you receive your original refund before filing a Form 1040X. I hope you find this information helpful!
Continue readingSix Year End Tips to Reduce 2011 Taxes
Below are six year end tips for saving on your 2011 taxes. Although 2011 has ended, you may still be able to take advantage of these suggestions from the IRS.
Continue readingStandard Deductions
From time to time people will ask me what the standard deductions are for a specific year and what the difference is between taking the standard deduction or itemizing. Basically, if you have more itemized deductions than what your standard deduction would be than it may be more beneficial for you to itemize. For example, […]
Continue readingEight Facts About Filing Status
Read below for more information on which filing status is best for you! Your filing status is used to determine your filing requirements, standard deduction, eligibility for certain credits and deductions, and your correct tax. There are five filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) with Dependent Child.
Continue readingEnergy Credit for 2011
The IRS released information regarding the energy credit that is still available for 2011. Below are two credits that the IRS is allowing for 2011, the Nonbusiness Energy Property Credit and the Residential Energy Efficient Property Credit. As stated, these are credits and not deductions so they reduce the amount of tax owed dollar for dollar.
Continue readingShould I File a Tax Return?
Several people have asked me recently “should I file a tax return?” Sometimes it can be difficult to know what is expected from the IRS. Below may be of some help in making this decision.
Continue readingEmployee or Independent Contractor?
Read what the IRS writes about the difference between employee or independent contractor:
Continue readingSix Tips for Paying Estimated Taxes
Are you responsible for estimated taxes? If so, read below! Estimated tax is a method used to pay tax on income that is not subject to withholding. You may need to pay estimated taxes during the year depending on what you do for a living and what type of income you receive.
Continue readingTips for Managing Your Tax Records
Read what the IRS reports about managing your tax records:
Continue reading