Income Taxes

 

The Latest

  • November 26, 2014

    It is recommended that you file any tax returns that are due, whether or not you can pay your tax liability in full. The longer you wait to file, the higher your late fees and interest charges will be.

    You can file a late tax return the...

  • November 24, 2014

    It’s the age-old question: Should you take the standard deduction, or should you itemize your deductions?

    To properly answer this question, you must first understand what the standard deduction is.

    The Standard Deduction

    The...

  • November 18, 2014

    When it comes to tax returns, you will often hear two different terms regarding income: Adjusted Gross Income (AGI) and Modified Adjusted Gross Income (MAGI).

    Both AGI and MAGI are important in calculating the amount of...

  • November 13, 2014

    If you have to move because of your job — whether you’re starting a new job or working at the same job in a new location — you may be able to deduct some of your moving expenses on your income tax...

  • November 10, 2014

    Below are the tax rates and related numbers that you will need to prepare your 2014 income tax return, which is due by April 15, 2015.

    2014 Income Tax Brackets

    There are 7 tax brackets for the Federal income tax: 10%, 15%, 25%, 28%, 33%,...