Tax Credits Archives - HBS Financial Group, Ltd.

Filing Your Own Taxes Online

Filing Your Own Taxes Online Like A Pro With The Help Of These 2 Tips

The 2020 tax year is almost over as we approach the October 15 extension filing date. Now is the time for tax planning for the 2021 tax year that is rapidly approaching. Covid and its variants are still causing problems for many and inflation is also rearing its ugly head. If you’re filing your own taxes online, you need to be aware of changes for this year.

Tax credit advance payments for those with children are being sent, and many remote workers have not returned to View full post…

Posted: December 10, 2021
Under: Income Tax
By: Gust Lenglet

Awesome Tax Credits

Tax Credits Available Without the Personal Exemption

The Tax Cuts and Jobs Act that took effect on 2018 tax returns, allowed certain tax credits to continue, but only for those who had qualified dependents. Prior to the new tax law, taxpayers had been claiming dependents as personal exemptions and got a $4,050 deduction on their 2017 return for each one.

So, a married couple with two children could deduct a total of $16,200 from their gross income – a pretty good deal. There were limitations, however, View full post…

Posted: March 26, 2021
Under: Income Tax
By: Gust Lenglet

Filing Taxes Online Is Fast & Easy

Everything You Need to Know About Filing Taxes Online

Here are a few of the major advantages of filing taxes online with electronic filing:

Organizing your tax records – If you’re audited by the IRS, or if you simply are questioning some part of your tax return, you’ll be able to access the permanent electronic record at any time. When you file taxes online from the comfort of your own computer, you create that permanent electronic record for future use.

Click here to checkout our low filing fees for filing taxes online.

E-file your taxes online for Free – On our site, there View full post…

Posted: January 23, 2016
Under: Income Tax
By: Gust Lenglet

Tax Credit Tips

Five Tax Credit Tips for Getting the Tax Relief You Need

The April 15th deadline for filing your taxes doesn’t have to be an aggravating day nor a massive hit on your bank account. Minimize the damage on your wallet by following these five tax credit tips to lower your tax burden with tax credits that you qualify for:

Tip #1 – Know Your Filing Status and Plan Accordingly

The first step to getting a tax credit and reducing your burden on tax payments is to determine your filing status. Filing the right status is no small matter since it determines which tax credits you’re eligible to receive and it can help prevent filing the wrong status, which can cost you in fines.

If you need help determining your filing status, you can take a survey on the IRS website to learn which of the five statuses best applies to you.

Tip #2 – There Are Credits For Students

If you’re taking four years of post-secondary education, you may be eligible View full post…

Posted: March 16, 2013
Under: Income Tax
By: Neda Jafarzadeh

Tax Filing Delay Again

Another Delay In Tax Filing & Getting Your Refund? Sure Looks Like It

Once again, there may be a delay in the beginning of tax filing, this time for the 2013 tax season. The IRS has stated that the reason for this delay is because Congress has not approved another patch for the Alternative Minimum Tax (AMT). If new legislation isn’t passed to correct this, taxpayers may experience significant delays, because of the time required by the IRS to have their computers reprogrammed.

The Acting Commissioner of the IRS, Steven Miller, sent a letter to Representative Sander Levin, a member of the House Ways and Means Committee, in response to requests made by certain representatives. They wanted to know what the IRS was doing in their View full post…

Posted: December 24, 2012
Under: Income Tax
By: Gust Lenglet

Tag: Tax Credits