Many tax payers have the luxury of filing a state tax return quickly and easily by basically adding one extra step to filing their federal return. Tax software simply copies the information from the federal return to the state return and both returns are filed in no time. But what happens if you have a […]
— Read moreIf you claim a dependent, and another taxpayer lists the same person as their dependent, the IRS is likely going to reject your tax return. Generally, to claim a dependent you supply the IRS with the dependent’s Social Security number, which is used to authenticate your relationship with the person and that some basic rules […]
— Read moreBig changes may await the Affordable Care Act in 2017, however all requirements and provisions in relation to taxes remain relevant for 2016 returns. As tax season begins, the Form 1095-A, Health Insurance Marketplace Statement will play an important role when you file your tax return. You should also be aware that this tax year […]
— Read moreAs technology adapts to allow more employees to telecommute, the traditional office is becoming more of a makeshift desk on the kitchen table than a cubicle across town. However, if your employer is in a state other than the one in which you live, you’ll have a little bit of a different tax situation than […]
— Read moreIn some cases, yes. While most couples who are married file a return together, combining their income into a single amount to be taxed. Filing a joint return is generally simpler for couples, and most of the time will produce a lower tax bill than if the couples filed their returns separately. However, there are […]
— Read moreTax season can be complicated: From the math, to the organization of documents, to the filing of the forms. The IRS has over 900 different tax forms available to taxpayers when filing their returns. Generally, the average taxpayer doesn’t have to worry about a majority of the forms. Ten of them are relatively common, and […]
— Read moreDeductions are an excellent way to recoup some of your expenses incurred throughout the year. How you account for those expenses, however, can make a big difference on your tax bill. Taxpayers have two methods of claiming deductions- itemizing or taking the standard deduction – and they must choose one to use when filing their […]
— Read moreThis tax season, you may receive a Form 1099 in the mail, specifically if you performed work outside your typical employer. You’ll need this document to file your tax return, so it’s important you store it in a safe place until you have everything you need to complete your return. What is a 1099? This […]
— Read moreHave you ever owed taxes after you’ve filed your return in April? If so, you’re probably looking for ways to save this tax season. Seeing which tax credits you qualify for can make a big impact on your tax bill this season. Tax credits are a big advantage to taxpayers. Qualifying for a credit is […]
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