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Posts Tagged ‘irs tax refund’

Tax Deductions Most Americans Can Use

May 03, 2016  |   Tax Advice,Tax Tips   |   Tags: , , , ,  

Tax breaks such as home office deductions, gifts and charitable deductions can only be used if you itemize on your tax return. Taxpayers that take the standard deduction miss out on these deductions. However, there are certain deductions that all Americans can make use of whether they itemize or not. The Motley Fool shares what you need to know about these deductions, and which ones are not being used by nearly enough people. “Adjustments to ...

Things to Know When Filing Your Tax Return This Year

January 27, 2016  |   Tax Advice,Tax Tips   |   Tags: , , , ,  

Taxpayers should expect various tax rule updates this year, and important changes made by the IRS. There has been a hike in Affordable Care Act penalties, and reporting requirements are mandatory for those holding foreign financial assets valued at $50,000 or more. In order to remain compliant with current tax rules and avoid running into any problems, taxpayers may review the following filing facts, as shared by Time: “1. Tax Accountants Get Swamped Closer ...

Six New Year Tax Resolutions That Work Every Year

Procrastination can be more than a bad habit when it comes to taxes. It can lead to back taxes, paying penalties, or facing collection action by the IRS. Practical tax routines followed throughout the year can keep you compliant with tax laws and help you to save more in taxes. Forbes shares six resolutions that will help keep you stress-free and your taxes simple. “1. I Will Pay Attention to Each Form 1099. It’s almost ...