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Posts Tagged ‘tax filing’

How Not to Spend Your Tax Refund

April 19, 2016  |   Tax Advice,Tax Tips   |   Tags: , , , ,  

The average refund amount for the 2016 filing season is $2,798. This may seem like free money from the Treasury Department, but this amount represents the excess taxes you paid the previous year. How you use your tax refund really depends on your financial situation and your immediate needs. However, there may also be temptation to spend your extra money on non-essential items. Bankrate ...

How Much Does An Average American Pay in Taxes?

A variety of tax returns are filed each year, totaling nearly 50 million returns (as of Feb, 2015). To prepare those returns, individual taxpayers spent 3.8 billion hours (2009), according to the National Taxpayers Union. This hard work pays off when taxpayers receive their tax refunds. The average refund amount is $3,120, says the IRS, and almost 83% of the returns filed resulted in ...

Working Abroad and Your Tax Obligations

January 08, 2016  |   Tax Advice,Tax Tips   |   Tags: , , , ,  

For Americans working abroad, most of the tax filing and reporting requirements are the same as it applies to those residing in the U.S. If a person is a citizen of the United States (even those with dual citizenship), they are required to report and pay taxes on their worldwide income. U.S. citizens, resident aliens and those holding a green card when working abroad are considered ‘taxpayers living abroad’. U.S. Taxpayer Identification Number To file a tax ...

Five Tax Tips on filing Taxes for the first time

April 16, 2015  |   Tax Advice   |   Tags: , ,  

If you are filing taxes for the first time, here are some tax tips a beginner taxpayer can take to successfully make it through their first filing season