Tax Deductible Items for your Job – Keep Accurate Records
Most individuals who are employed, and earn W-2 wages, usually don’t have on the job expenses. However, many others do have various tax deductible items that can be used on their tax return to reduce their taxable income.
Various professions, such as law enforcement, outside sales, and construction workers, to name a few, incur expenses in the performance of their job that are not reimbursed by their employer.
These could include tools, uniforms, use of personal auto, uniform cleaning, and many others. The important thing to remember is that these employee business expenses can be deductible if you personally paid for them and you were not reimbursed by your employer.
Where do you claim and deduct these tax deductible items?
As an individual employee, you can deduct these items if you use the itemized deduction method on Schedule A, and are not using the standard deduction.
Filing a Simple Return? – How About Free Income Tax Filing?
Anyone filing their first tax return, or whoever normally files a 1040EZ return, will probably qualify for free income tax filing. This includes millions of US taxpayers, and there is no need to be going to a CPA or another tax professional. All you will accomplish is paying a high fee for tax preparation.
Filing taxes online has really been streamlined over the years and is now so simple, anyone can do it. Our program will ask you a series of interview questions, and from your answers, will have all of the required tax forms and schedules ready for preparation.
All that you need to do is to enter your information from your W-2 form into View full post…
Posted: February 23, 2018 Under: Income Tax By: Gust Lenglet
Yes, we know getting that large refund is nice and it comes in handy. But it just doesn’t make good financial sense. You’re allowing self-serving politicians to play with your money with an interest free loan, and then you have to prove to them that it belongs to you by filing a tax return.
Another reason this coming year, for not over withholding, has to do with the Equifax credit bureau breach. Over 143 million individual accounts were taken, and many of them will be used to file fraudulent tax returns. If you’re not aware what happens then, let me explain.
These thieves file fraudulent tax returns very early when tax season opens and before the IRS receives the copies of W-2’s and other tax forms. They use your View full post…
Posted: February 9, 2018 Under: Income Tax By: Gust Lenglet
Do you still take your simple tax return to a CPA or a professional tax preparer? Don’t their high preparation fees seem excessive? The fact of the matter is that many individuals qualify to file taxes for free, but are still intimidated by the concept of taxes.
A few years back, I could understand this apprehension. But today, there is no reason to feel that way. Tax preparation software has become so intuitive and technologically advanced, it can literally prepare your return for you.
If your gross income is $100,000.00 or less, and it meets the IRS guidelines to file a Form 1040-EZ, there is no charge to file your federal return.
Unless your tax return is very complex, there is no need to gather all of your tax records, and make an appointment to see a professional tax preparer. Online tax filing sites today are so intuitive, they will actually show you how to file your own taxes.
Our online tax filing site, especially, will offer you so many benefits such as convenience, accuracy guarantees, plus very fast refunds. You get all of these simply by answering a few simple interview questions, and all from the comfort of your home. Did we mention the very low cost?
Some of the major advantages to filing your own taxes online is the View full post…
Posted: January 10, 2018 Under: Income Tax By: Gust Lenglet
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