Category Archives: General Filing
If you receive Social Security disability benefits, you should be aware that they are taxable. However, many aren’t required to pay on them. Social Security disability benefits are taxed, but those who have very little additional income usually don’t have to pay the tax. Statistically, those who do pay taxes on their Social Security Disability […]
— Read moreIf you electronically file your tax return, you will receive an email within 48 hours. This email will tell you to sign into your account, to see if your return was accepted. If your return was not accepted, you can correct your return resubmit it to IRS at no charge. When your return is accepted […]
— Read moreThe Health Insurance Marketplace sells four different types of plans: bronze, silver, gold, and platinum. These four plans provide varying levels of coverage, and the cost varies, with platinum plans being the most expensive. The Second Lowest Cost Silver Plan (SLCSP) is the silver plan that has the second to least expensive available in the […]
— Read moreAt tax time, you’ll see reference to “adjusted gross income (AGI)” many times throughout your forms. Many credits and deductions apply income thresholds and brackets which are dependent on your AGI, so it’s important to know how to determine your adjusted gross income. First, you’ll have to know your gross income. From that amount, you’ll […]
— Read moreIf you’re a tax preparer, you’ve likely heard of the new verification code added to Form W-2s this tax season. The IRS has added this extra level of protection to 50 million W-2s as an experiment to combat fraud and protect businesses and taxpayers from identity theft. The verification code consists of 16 digits, and […]
— Read moreIf you work for someone else, as an employee of a business or company, you should expect to receive a Form W-2 in the mail sometime between January and February. The form has a lot of little boxes and numbers on it, and is required to be sent to you by any employer who paid […]
— 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 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 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 […]
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