Teachers and other educators (such as instructors, counselors, aides, principals) that work in a school for at least 900 hours during the school year and with grades kindergarten through grade 12 qualify for this deduction. Further, both public and private school educators qualify. Homeschooling costs… Read More »Teachers and Educators can get up to a $300 Deduction
Personal Tax Tips
In order to claim business use of a vehicle, you need to utilize either the Standard mileage rate method or the Actual expenses method. You may have a larger tax benefit of one or the other, so it’s a good idea to calculate both if you qualify… Read More »Mileage Tracking With Quickbooks
Tax Deadline: April 18, 2023 Individual and C-Corporation tax returns are due Tuesday, April 18th, 2023 (as the normal deadline of the 15th falls on a weekend and Monday the 17th is the Emancipation Day holiday in the District of Columbia). Most tax professionals are… Read More »Tax Deadline: April 18, 2023
Filing a complete and accurate tax return is the best way to ensure receiving the refund is a smooth process or helping to curb receiving IRS notices. 1. Gather Personal Information Social Security numbers and the date of birth for everyone on the tax return… Read More »Tax Tips for Filing
When can you expect your tax documents? Most forms have a date that they must be postmarked, or mailed by. Mail delivery time and delays could mean that the forms are not received until after the below listed deadlines but are still considered on time.… Read More »When can you expect your tax documents?
The two main ways to reduce your tax bill include tax credits and tax deductions. Tax credits are calculated after the tax is determined, meaning that they will reduce the tax you owe but they have no effect on your tax bracket. These are typically… Read More »Progressive Tax System, Pt. 2: How Do Deductions and Credits Reduce My Tax Bill?
Extended Tax Deadline is Monday October 17th Personal Tax Returns are due on April 15th every year, with a one time extension to October 15th … as the 15th is a Saturday in 2022, you get an extra 2 days to file with the deadline… Read More »Extended Tax Deadline is Monday October 17th
The USA has a progressive tax system, where a higher tax rate is imposed as income increases. This system works to reduce the taxes for those with a low ability to pay and shifts more of the tax to those with a higher ability to… Read More »Progressive Tax System, Part 1: How is my tax bill calculated?
Tax planning is not just a one-time-per-year thing. Having a year-round plan can help you reduce your tax liabilities when April rolls around. Being as proactive as possible can help you make the most of your benefits and reduce any unwanted surprises. Here are six… Read More »Year-Round Planning Tax Tips
The only way to get an update on your tax refund is from the IRS’s Where’s My Refund tool https://www.irs.gov/refunds if can make the name of the tool a link] (the IRS asks that you not call them for updates, and it’s unlikely to get through… Read More »Reasons Your Tax Refund May Be Delayed