March 18, 2015
Although the IRS only audits about 1.1% of the over 140 million returns it receives each year, for those people who do receive an audit notice it can be a stressful experience.
If your income is under $200,000, your chances of a tax audit...
March 12, 2015
The e-file process allows taxpayers to submit their taxes electronically by connecting to the Internal Revenue Service’s (IRS) Electronic Filing System. E-filing can be done from a computer (as well as modern smartphones and tablets) using a tax...
March 11, 2015
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%,...
March 5, 2015
One of the best ways to reduce your income tax liability (and possibly increase your tax refund) is through Federal tax deductions provided by the IRS.
There are certain...
March 4, 2015
The ability to work for yourself and be your own boss is an exciting prospect. Becoming self-employed in your field of expertise can give you the freedom to find a work-life balance that is hard to achieve when you are employed by a someone else...
February 27, 2015
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.
February 23, 2015
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
February 22, 2015
Roughly one in three Americans files their own taxes online, rather than using a professional tax preparer. If you're going to file electronically, there are a few ways you can do it.
If your Adjusted Gross Income (AGI) was less than $60,...
February 20, 2015
Tax credits, available through the IRS, can bring you a substantial savings on your Federal income tax bill.
A tax credit reduces your tax liability dollar-for-dollar. This means that a $500 tax...
February 12, 2015
Are you looking for an expert to help you with your income tax return?
When it comes to choosing a qualified tax preparer, it is important to know that there are different types of...