The time of year for tax returns is no respecter of persons. It is hard to swallow that it hits us just after the most liberal shopping time of year of the year when we max out our credit cards to keep up with the Jones’. For most people just gathering the basic information to [...]
As the April tax filing deadline is fast approaching, you want to keep your focus to ensure you file a correct tax return. To help you along we thought we would show you the humorous side to accountants. Yes, I know it is hard to believe but accountants do have a sense of humor. Okay, [...]
When John (not his real name) moved from the hot Texas climate, he figured he would get some Texas tax back. John’s situation is not unique because many Americans move from one state to another in search of employment or family bliss. Depending on the time of year you leave one state for another, you [...]
Tax jurisdictions try to justify collecting tax by the fairness concept. That is, everyone who can afford it should pay their share of the tax burden. It is a burden allright because the tax man sometimes demands his portion of the loot by asking for his money upfront. So it is important that you get [...]
Did your employer send your Form W2? Most people know what this form is but in case you don’t, it is your statement of earnings with your employer. Employers should forward this form to you by February 02 of the first year following your earnings period. You will need this form if you had employment [...]
Yesterday, I could not believe what I was hearing while listening to a video about clients of a firm that helps taxpayers negotiate favorable deals with the IRS. But it seems the IRS has some unreasonable laws to work with when dealing with you. This chap spoke about having a significant amount of money deducted [...]
Many small business owners get confused about the differences in tax reporting and their regular reporting to their shareholders. That is why some accountants tell about many unrealistic claims owners make when completing their 1099 taxes. Naturally, a going concern will incur expenses, but not all expenses are deductible. Even when certain expenses are [...]
Recently, we wrote about the myth of getting tax refunds. Today, we want to continue that trend by showing you a special video on this subject. Yes, getting a tax refund doesn’t mean you get free money, as many people think. It is just payback time. The IRS is returning the excess money your employer [...]
As the tax filing deadline is quickly approaching, some of you may be concerned about filing your taxes on time. Well, you don’t have to get one of those shrewd IRS tax attorneys, but at least you need to know what is in store for you if you fail to file by the deadline. [...]
As the good reports come out about the ease and convenience of using online tax efile services, many Americans are jumping on the band wagon. Afterall, why would you want to call a mule service to take you from California to Florida? No doubt you would call your local airline and book a flight that [...]