Filing Your Taxes & Can’t Pay? – 5 Options

Filing Your Taxes & Can’t Pay? – 5 Options

Filing Your Taxes & Can’t Pay? 5 Options to Consider

If you’re certain you will be due a refund when tax time rolls around, chances are filing your taxes will be done before the due date. However, if you’re one of many who will owe the IRS, and you don’t have the money to cover the bill, it may be a different story.

A study was done last year to find the reason why many taxpayers failed to file their tax return by the extended filing date of July 15, 2020. It revealed that 24% of that group were sure they owed additional taxes, but they were not able to pay.

Another 18% had no idea View full post…

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Cheating On Your Taxes

Cheating On Your Taxes

8 Ways You May Be Cheating on Your Taxes

There are many ways you can be cheating on your taxes without even being aware of it. Often times a well-meaning friend or relative will tell you that some type of income isn’t taxable because they’ve been doing it for years and the IRS hasn’t said anything. Ever hear that?  We all have, I believe.

Doing all you can to legally avoid taxes is okay, but it’s never okay to evade taxes. Maybe we’re “old fashioned” here at our firm, but we firmly believe that everyone should View full post…

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Do Your Taxes Online

Do Your Taxes Online

Do Your Taxes Online & Stop Paying Those High Fees

Tax Slayer Makes Filing Fast, Easy, and 100% Accurate

Filing your taxes is a process that we all would like to avoid, and for many good reasons. Not only is the process typically very time consuming, but it can also be so intimidating to know how to properly file your tax information and answer all of the questions correctly. You can do your taxes online here and avoid all of that hassle.

You can hire View full post…

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5 Safe Options to Pay Your Tax Balance

5 Safe Options to Pay Your Tax Balance

If I Owe the IRS, What Are My Options?

I know, I know…you go through a lot of stress just in preparing your tax return, but when you owe money also, it’s like getting kicked when you’re already down. Then if you happen to be short of cash, and can’t pay your tax balance in full, what is one to do?

Way back in the “old days”, when I was just starting out with my tax practice, if you had a balance due and didn’t pay it in full, the IRS came after you very quickly. As the years went by, and more and more taxpayers found themselves in that predicament, the IRS decided it was in their best interest to work with the taxpayer, and collect more money in the long run. View full post…

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Should You Itemize Your Deductions

Should You Itemize Your Deductions

Is It to Your Advantage to Itemize Your Deductions?

Under the old tax rules from many years ago, the answer to this question was generally yes, for most filers. Today, and especially after TCJA, more filers are using the new standard deduction. If you want to itemize your deductions, you need to exceed those amounts for the standard deduction.

To itemize your deductions, you need to keep track of medical expenses, various types of taxes that you pay, charitable contributions, qualified mortgage interest paid, and certain casualty losses. It takes more work to keep accurate records for these deductions, but it could payoff in the long haul.

Using the standard deduction or View full post…

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Best Way to File Taxes

Best Way to File Taxes

Best Way to File Taxes if You Are Self-Employed

If you’ve just started a new business, or are planning to open one, you will need to know the best way to file taxes. The steps that you need to take are not complicated, but some of the detail might be. Whatever you do, don’t put off filing, or for that matter paying quarterly estimates, if required.

 The last thing you want, is to end the year with a nice profit, and have a big tax bill for income taxes and self-employment taxes. Like most new business owners, you’ve View full post…

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Best Online Tax Filing – $25 Flat Rate Fee

Best Online Tax Filing – $25 Flat Rate Fee

Looking for the Best Online Tax Filing? We Have It

Have you tried to prepare your tax returns yourself and struggled with all the paperwork? Or perhaps you went to your local CPA or one of the tax franchise operators? Has the sticker shock worn off yet or did their very high fees leave you confused? Not the best online tax filing by any means.

Why spend your hard earned money on an expensive tax preparer? Or become frustrated trying to understand a convoluted tax code that even confuses some accountants? We have a simple and low cost solution. A flat rate of $25.00 and that includes a state return too. Plus View full post…

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Speedy Online Tax Services

Speedy Online Tax Services

Online Tax Services Help to Avoid These 7 Tax Return Blunders

If there’s one thing that we can count on, it’s that tax laws are constantly changing. To help us to cope, the better online tax services, such as ours at HBS Financial Group, Ltd., offer assistance to avoid the seven most common tax blunders.

These mistakes are not only made by first time tax filers with a very simple return, but also by those who file more complex tax returns. It is our hope that listing these seven types of errors will help you to avoid them.

Failure to report all taxable income

This is probably the area that so many taxpayers fail View full post…

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Filing My Tax Return Online

Filing My Tax Return Online

Filing My Tax Return Online or Use a Tax Preparation Service?

I’ve asked this question a few times, and depending on the individual, I’ve received a different answer. Those who knew more about taxes said filing my tax return online is the way to go. A few others who may not have known much about taxes, but were turned off by high tax preparer fees, agreed with them.

Others who doubted their ability to file taxes online said they would use a professional tax preparer. Some others said that a family member would prepare their taxes for them. They didn’t want the hassle and possible liability of an incorrect return.

Most all agreed and said that filing my tax return online made more sense. This method of filing your taxes has become View full post…

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Online Tax Preparation Made Easy

Online Tax Preparation Made Easy

Finally a Solution to Online Tax Preparation That Makes Sense

Now that you’ve decided to take advantage of the online tax preparation method of filing your income tax return, you need to select one of the tax vendors from the many listed in the search results.

You really need to select the one that will best supply your needs, and this will involve some research on your part. This guide may be of help to you as well. We’re assuming that you haven’t filed a tax return online before, so you may not be 100% certain on the services that you may need.

There are various factors to consider, as well as tax documents you need to have in hand before you start to look for an online tax filing service. Get all of your tax documents together such as W-2’s, 1099’s, and any other information that was sent to you.

If you’re not buying a home and don’t View full post…

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