There are multiple situations where you need to find out what the IRS knows about you. It could be for the purpose of obtaining a loan, refinancing your house, or continuing your citizenship status. Possibly you are a few years behind on filing tax returns...
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 third quarter due date is now here. Due date: Monday, Sept. 17, 2018 SPECIAL NOTICE: With major tax law changes...
The time to organize your tax records is now. Waiting until the end of the year or, even worse, waiting until you are audited can lead to headaches. Here are some tips to get on top of your tax records. Storage Hints Organize your records by tax...
Medical expenses are on the rise. According to the Milliman Medical Index, the average family of four on an employer-sponsored plan will spend $28,000 on healthcare in 2018 – a $1,000 increase from 2017. Below are some ways you can save tax dollars when paying...
Major tax reform will have a noticeable impact on virtually all taxpayers this year. Will your total paycheck withholdings at the end of the year line up with the new changes? Here are a few of the major changes and why it might be a...
Summer is coming to a close and the back-to-school advertising blitz is underway. Hidden in some of those school expenses are tax deductions you can take advantage of. Here are some ways you can save: Watch for tax deductions on the supply list. Often schools...
As our students prepare to head back to school, many families face the difficult decision to save for retirement or use those funds to pay for their children’s college education. If you are facing that dilemma, here are some thoughts: Prioritize retirement over education In most cases...
Picture this: For the past few years you've received your tax return and have had a small but nice refund. Now imagine your surprise, when next year, you are required to send in a fairly big check to settle your tax bill. Believe it or...
If you own a business, you know that you may accelerate the expensing of qualified capital purchases. This can be done within two special provisions in the tax code that were recently expanded: Section 179 The annual amount of qualified assets that may be expensed (instead of...
At the end of June, the IRS unveiled a new draft version of the 2018 Form 1040. This newly proposed postcard-sized 1040 form replaces the old 2017 1040, as well as forms 1040EZ and 1040A. While some in Washington are celebrating the design as a...
