Tax Returns

You are experiencing sweet satisfaction knowing that your taxes were filed on time. That is, until you realize that you took a deduction when you did not qualify for it, or forgot to claim an important tax credit that could save you hundreds of dollars … or until Congress suddenly resurrects some expired tax breaks,
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Waiting until the last minute to pay your taxes can cost you if you are expecting a refund, since the government hangs on to your money and receives more interest on it. However, if you owe money to the government, that same principle applies to you. Why not wait until the last minute? There is
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Are you a procrastinator who waits until the very last moment to file your taxes? Thanks to Emancipation Day, the filing deadline is April 17, 2018, to file your taxes for the 2017 tax year. That gives you a few more days to consider last-minute ways to lower your taxes. Start by reviewing your possible
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In general, deducting pet expenses on your tax return can get you into hot water with the Internal Revenue Service (IRS). Usually pet expenses will not hold up should the IRS audit you. However, specific cases exist that allow you to take legitimate tax deductions for spending on your pet. Regardless of how you justify
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Contributing to a retirement account can be difficult for lower income households, but one can argue that it is even more important for those families to take advantage of all the retirement savings options that are possible. One of the lesser-known options applies directly to lower-income families – the credit for qualified retirement savings contributions,
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You’ve submitted tax forms for many years. How difficult can it be to submit them in retirement? It isn’t difficult – as long as you take into account basic changes that occur in retirement and the corresponding tax challenges. Fortunately, you can learn from those who have retired before you. We are happy to pass
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If you have done your homework leading into retirement, you probably already know that Social Security benefits may be subject to federal taxes under certain circumstances. Did you know that some states also impose taxes on Social Security? Currently there are thirteen states that impose at least some tax on the benefits of Social Security
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Computers and the Internet have become mainstays in virtually every area of American life in the 21st century. There are tremendous benefits and conveniences to this, of course, but there are also some downsides — such as the increased risk of identity theft that arises as we share more of our personal information online. In
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Your smartphone is probably full of fun apps, but we have one more app to add to help you deal with a painful task: your taxes. Did you know that the IRS has a free smartphone app to help taxpayers handle basic tax-related functions? They do, and it has been in existence since 2011. The
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Don’t believe everything you hear about taxes. Your friendly, neighborhood Internal Revenue Service has recently identified and debunked six common myths about tax filing. Every Tax Refund is Delayed – According to the IRS, 90% of tax refunds are issued in less than 21 days. Choosing to e-file and receive your refund by direct deposit
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Like most Americans, you probably want to get through your taxes as quickly as possible. However, do not rush through your return so quickly that you simply take the standard deduction and ignore deductions that can bring you a healthy refund. Consider these commonly overlooked tax deductions. For the 2018 tax year, fewer of us
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These days, you probably want to file your taxes as early as possible to prevent identity thieves from filing a false return in your name — but that requires you to have the necessary forms in hand, including W-2 forms. Notwithstanding all of the new federal tax changes, the W-2 form is one of the
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Congratulations! You made it through another year. What better way to start 2018 than with 18 great money-saving tax deductions? Use them to save money on your 2017 taxes while you still can, because this is the last year for many of them due to the Tax Cuts and Jobs Act of 2017 (TCJA). 1.
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The 2017 Tax Cuts and Jobs Act will bring significant changes to individual taxpayers, but states will also be affected by some of the law’s provisions. The limitation on deductions for state and local taxes has grabbed the most headlines, because by definition, it affects taxpayers in states with high property values and high taxes
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