Tax Resources

The Latest

  • 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 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...

  • 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 3, 2014

    Beginning in 2014, the Individual Shared Responsibility provision of the Affordable Care Act takes effect. This means that each and every taxpayer (and family member) is now required to maintain basic health insurance, also called “...

  • October 30, 2014

    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...

  • October 16, 2014

    When you’re getting married, taxes are probably the last thing you want to think about. However, it is still important to understand the tax consequences of marriage. This article explains some basic tax considerations for newlyweds.

    Name and...
  • October 15, 2014

    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...

  • October 10, 2014

    Are you wondering if you need to file a tax return? While most people who earn an income must file a Federal income tax return, that is not true for everyone.

    Depending on your...

  • October 9, 2014

    One thing that many new retirees forget is that they may need to pay taxes on a portion of their Social Security benefits. These benefits include monthly retirement, disability, and survivor payments — but not supplemental security income (SSI)...

  • October 7, 2014

    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...