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…[…]
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[…]
10 Business tax deductions not to miss this tax season 1)Business Startup expenses – Startup expenses that are up to $5,000 can qualify for a valid business deduction. This can be taken as a business deduction the same year. This covers legal and company formation fees paid in connection with creating/ acquiring another business. If costs exceed $5,000,Read more about 10 Business tax deductions not to miss this tax season (2017 tax year)[…]
Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns Income tax refunds may be delayed for taxpayers who are claiming Earned Income Tax Credit ( EITC ) and the Additional Child Tax Credit ( ACTC ). By law, IRS cannot issue refunds claiming the Earned income tax creditRead more about Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns[…]
***The below guidelines are applicable if you have not yet received your original W2 or a corrected W2 has not yet been received by the tax filing deadline. Most employers would have already mailed out W2 forms to their employees. If your employer is out of business or if you did not receive your W2Read more about Here’s what you can do if you do not receive your W2 past February[…]
It is very easy to check the status of your refund online via the IRS website. Please check the following link https://www.irs.gov/refunds. Frequently asked questions about tax refunds How long are the processing times for paper filed and electronic tax returns? As per IRS website the normal processing may take as long as three weeks. MostRead more about How to check status of your 2018 tax refund ?[…]
IRS refund schedule 2018 One of the most frequently asked questions during the tax season to a tax preparer is ‘ when will I receive a tax refund check’. While the processing times may vary, IRS has issued general guidelines on refunds. It is usually 21 days from the date it is received. ForRead more about When will I receive tax refund check? IRS refund schedule 2018[…]
Stock brokers, lenders and employers will start sending you the tax forms and statements by January 31st. The Internal revenue service (IRS) gives companies time until January 31st to mail out these statements. Many currently send it out electronically instead of postal mail. The following are the mostly common tax forms that you should expectRead more about Tax forms you should expect to receive by January 31st, 2018[…]
Ten questions to ask when choosing a tax preparer It’s the time of the year when many of you are searching for a tax professional to help file your taxes. It is extremely important to choose your tax professional wisely. As a taxpayer, you are responsible for all the information on the taxRead more about Ten questions to ask when choosing a tax preparer[…]
Common errors on your W2 (Salary year-end reporting)/1099s and how to fix them By the end of January, many of you will receive copies of 1099s and W2s. If all the information is correct, you are all set for the tax filing. However, if you notice any errors there is no need to panic.Read more about Common errors on your W2 / 1099s and how to fix them[…]
