Category Archives: General Filing
Many taxpayers who are due a refund opt for direct deposit. In fact, it is the top method of receiving payment on a federal tax refund. It’s completely safe, and delivers the cash you’re entitled to quickly and easily, especially when you combine it with electronic filing methods. Approximately 90 million taxpayers opted for direct […]
— Read moreIf you’ve heard of the Alternative Minimum Tax, you’re probably wondering if it applies to you, and what you should expect if it does. If your income is above a specific amount, you may fall under the guidelines of the Alternative Minimum Tax. The point of the AMT is to maintain a minimum level of […]
— Read moreIf you’re self-employed, tax time can be confusing. Filing a federal tax return doesn’t have to be difficult, and with a little bit of information, independent contractors and small business owners can easily file returns just like the rest of the taxpaying population. Understanding what classifies as income from self-employment, as well as your tax […]
— Read moreOnce you’ve filed your taxes, you should maintain all of your records and supporting documents in a safe place in case you need to refer to them or if you get audited. But how long should you keep your records for? The IRS has a few tips that can help you figure out how long […]
— Read moreWith the implementation of the Affordable Care Act, Americans who chose to opt out of health coverage will end up paying a rather high penalty. For a five person family with a high income, the penalty can max out at over $12,000 in 2014. This penalty is expected to rise significantly in 2015 and continue […]
— Read moreWhat next step do you take when you discover inaccuracies in your filed tax return records? The solution depends on the circumstances and nature of change. What happens when your past year dividend income suddenly changes after you receive an updated form from a brokerage house or financial institution? In most cases, the difference is […]
— Read moreThis year, when you file your taxes, you may find that the government is willing to help offset some of the costs of financially caring for your parents. There a multiple ways that you can get tax assistance for parental support when you file your 2014 return. A new dependency tax care credit, along with […]
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