I don’t need to remind you how expensive a college education has become over the past few years. As a result, more and more students have had to rely on scholarships or grants to help lower these very high costs for higher education.
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
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
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.
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
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
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