Monthly Archives: October 2015
As technology becomes a bigger part of our lives, the risk of identity theft has increased. Gone are the days where identity thieves were only on the prowl for names, addresses, birthdates, and social security numbers of their victims. Because so many companies, financial institutions and other agencies require heightened security measures for access to […]
— Read moreSo you owe the IRS? Most taxpayers have been there, done that. But what happens if you owe taxes and don’t have any money to cover what you owe? First, you need to not panic. There are options, but before you get to them, you have to ensure you file your return. If you don’t […]
— Read moreDo you owe taxes but are having a hard time paying the IRS? Are you unable to pay anything at all? If so, you have two options: request a temporary delay in collections, or apply for an Offer in Compromise. However, these options are only available if: There is reason to believe the amount you […]
— Read moreNo one enjoys paying taxes, however the fact that you’re entire salary isn’t taxed by the federal government should make it a little bit easier to swallow. During tax time, you’re required to report your entire income, but the IRS deducts certain amounts, like education costs and retirement plan contributions, before determined the amount of […]
— Read moreMany major cities, or even those close to the border of a neighboring state, have a significant portion of taxpayers who travel from another state to work there. For example, many New Jersey residents work in New York City, or Marylanders may drive to Virginia. It may not seem like a hassle to cross the […]
— Read moreLooking for someone to help prepare your taxes? It’ll cost you – $246 on average. According to the National Society of Accountants, that’s the median expense for having your Form 1040, accompanied with a Schedule A and your state tax return, prepared for you by a tax professional. If you opt for the standard deduction […]
— Read moreThere are three different ways you can save money at tax time: by claiming exemptions, credits, and deductions. Oftentimes, taxpayers confuse the three and sometimes think the terms are interchangeable. There is a difference between each of the three, however, and it’s important to understand how they work and if you qualify before claiming any […]
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