In today’s challenging economy, many have ventured out as either part-time or full-time entrepreneurs, in efforts generate a successful revenue stream. Unfortunately, some of these enterprising individuals are unaware of the impact their business activities have when it comes to their federal tax return.
Here are six tips all self-employed individuals should know about income come tax time. Continue reading 6 Tax Tips Every Self-Employed Individual Ought to Know
Intended to make health care more affordable for people with low to moderate incomes, you may qualify for a premium tax credit when you enroll. To be eligible for the credit, you generally need to satisfy three rules: Continue reading How The Premium Tax Credit Works
Have you ran across those tax preparation companies who practically guarantee you a large refund, without even reviewing your financial information?
Well, the good news is, like the great Houdini, there are actually tax prepares who can use their ‘magic’ to live up to their promises, 100% of the time. The bad news is, the refund could be temporary, as the IRS Audit department is good at exposing a hoax. It may take months, or even years later to discover that the trick was actually on you! Continue reading Beware of Tax Preparer, The Magician
While Seattle and Denver prepare to do battle in New Jersey’s hosted Super Bowl on February 2, most Americans will need to prepare to do battle with the IRS starting January 31, the official opening of tax season.
This year, that means making yourself aware of some key IRS Tax Law changes. Here are some of the most important changes that will affect most American taxpayers this tax season: Continue reading 7 Important IRS Tax Changes You Should Know
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The easiest way to lower your taxes is to not miss any deductions on your tax return. For this reason, it’s well worth the effort to adopt a system by which you can conveniently track expenses, and maintain receipts for business expenditures. A good system won’t only keep you focused on tracking those valuable business deductions, but it will also provide a necessary paper trail in the event of the dreaded IRS audit. Continue reading How To Save Money And Make Life Easier Come Tax Time