Whether you receive a big refund or pay taxes on tax day, taking action now can ensure next year’s tax bill is optimized by not paying a dollar more than necessary. Update paycheck withholdings and forecast estimated tax payments. Reviewing and updating withholdings now gives you...
With the individual tax-filing deadline on Monday, April 15, now is the time to complete all filing arrangements and payments. Ask yourself these six questions now before it’s too late to act: Do you need to sign your e-file authorization form? IRS Form 8879 needs to...
If you have not already done so, now is the time to review your tax situation and make a 2019 estimated quarterly tax payment using Form 1040-ES. The first quarter due date is now here. First-quarter due date: Monday, April 15, 2019 Remember, you are required to...
When it comes to taking qualified deductions on your tax return, having proper documentation to prove your expense is a must. Here are some typical areas that taxpayers often fall short, costing them plenty during tax filing season and during IRS audits: Cash donations to...
Because of new laws many home related tax rules have changed and now require you to prove how funds are used to qualify for a deduction. This is catching many taxpayers by surprise. So when your mortgage company reports tax-related information to you and the...
No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers. Report everything that has an informational tax return. If you are like most Americans, you will receive numerous...
Tax forms come in more varieties than flavors of ice cream. Nearly any time something of value changes hands, there’s a specific tax form available to capture it for posterity. Check out the list below to familiarize yourself with some of the forms that are...
If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 2018 fourth-quarter due date is now here. Normal due date: Tuesday, January 15, 2019 Remember you are required to withhold...
For new parents, information is coming from every direction – feeding times, car seats, sleep schedules, strollers, child development and of course ...
There are few things as frustrating as not being paid what is owed to you. If it becomes clear the debt is not going to be paid, you might be able to recoup some of the lost money via a tax deduction. The IRS has...
