5 tips before you search ‘best tax preparer near me’ As tax deadline is getting closer, many of you are searching ‘tax preparer near me’, finding the closest tax office near your residence or place of work. While this may be the easiest way to find a tax preparer, many times you are probably notRead more about 5 tips before you search ‘best tax preparer near me’[…]
Can you deduct moving expenses on your tax return? Did you recently move to a new job? What kind of home improvements are tax deductible? Can you deduct all or part of moving expenses on your tax returns? What /which moving expenses are fully tax deductible? Are home improvement expenses considered tax deductible? IfRead more about Can you deduct moving expenses on your tax return?[…]
Where is my tax refund? You can get information about your refund within 72 hours after an acknowledgment has been sent by the IRS to you. Most refunds are processed within 21 days. Filing online & electronically is the fastest way to receive status on your tax refunds. You will require the following informationRead more about Where is my tax refund?[…]
How to report name changes before filing taxes? Has your legal name changed? Name on your tax return should exactly match the name on the social security administration website. Mismatch in names can delay tax refunds. Here’s what you should do if your legal name has changed : Reporting your name change : Notify SSA ofRead more about How to report name changes before filing taxes?[…]
IRS alerts Taxpayers about a new Tax Refund Scam The Internal Revenue Service warns taxpayers about a new type of a tax scam. Fraudulent tax refunds into individual’s bank accounts are being deposited, then the criminals are trying to reclaim the refund from the taxpayers. The following are few basic steps you can takeRead more about IRS alerts Taxpayers about a new Tax Refund Scam[…]
Tax tips on rental real estate income and tax deductions for 2017 tax year Are you owning a rental real estate property and unsure which expenses are deductible? Here’s a general summary : Income to report Rental income: In general, report all income that you earned on your rental real estate property. Advance rent: AsRead more about Tax tips on rental real estate income and tax deductions for 2017 tax year[…]
Happy and excited to receive a big tax refund check, think again… That’s because receiving a big tax refund is actually a bad thing… A big tax refund indicates you are paying too much in taxes…. The # 1 mistake which most taxpayers make is overpaying taxes. A big tax refund signals unplannedRead more about Happy to receive a big tax refund, think again…[…]
Advantages of filing taxes online Advantages of filing taxes online There are many advantages of filing your taxes online. Greater accuracy : One of the biggest advantages of filing your taxes online is greater accuracy. Most of the software used currently by tax professionals are advanced, allowing them to focus more on finding those taxRead more about Advantages of filing taxes online[…]
Advantages of S corporation S Corporation A business may elect to be an S Corporation (S Corp) by filing form 2553. This will provide additional tax benefits for the S Corporation as there is no taxation at the corporate level. All profits and losses will pass through at the shareholder level. Restrictions on S Corporation The followingRead more about Advantages of S corporation[…]
Five tax credits for a bigger 2017 refund Tax credits help reduce the amount of tax you owe. A refundable tax credit allows you to reduce your overall tax liability and it can also result in a refund. Child Tax credit: You are eligible to receive up to $1,000 on your tax return. YouRead more about Five tax credits for a bigger 2017 refund[…]
