Federal Tax Returns
December 18, 2014
Giving to charity has two major benefits: it helps those who receive it, and it can be claimed as a deduction on your income tax return.
December 17, 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%,...
December 15, 2014
December 10, 2014
The American Opportunity Tax Credit (AOTC) was originally introduced for tax years 2009 and 2010 under the American Recovery and Reinvestment Act (ARRA).
The AOTC was designed as a stimulus to assist individual taxpayers into a new career...
December 8, 2014
During the month of December, consider these year-end tax tips that could save you money when April 15th comes around.
1) Give to Charity
If you plan on a itemizing your deductions, you can reduce your tax liability...
December 3, 2014
Everyone must pay taxes on the income they receive during the year, whether it is from a job, self-employment, or other sources. The IRS expects to receive tax payments as your income is earned...
December 1, 2014
Millions of people enjoy having hobbies — whether it’s photography, antiquing, craft making, collecting coins, or breeding horses. It usually costs money to support a hobby, but in some cases, your hobby can also make you money.
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
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...