Tax Deductions
How Does a Health Savings Account (HSA) Work?
Offset Health Care Costs With an HSA Health Savings Accounts (HSAs) are designed to help individuals offset the health care costs associated with High…
Hobby Income
Is your favorite pastime classified as a business or a hobby? Here's how the IRS sees it. Millions of people enjoy having hobbies —…
Are You Subject to the Alternative Minimum Tax (AMT)?
Learn About AMT Rules & Guidelines The Alternative Minimum Tax (AMT) is basically an income tax system that runs parallel to the regular income…
What To Do If You Get a Notice From the IRS
Tips for Responding to a Federal Tax Notice Every year, the IRS sends millions of letters and notices to taxpayers for various reasons. There are…
Free Tax Assistance Is Available
The tax code is adjusted every year and it can be a lot to keep up with. Sometimes your life situation changes and you’re unsure…
Tax Breaks for Parents
Raising a child is expensive, but you can partially offset some of the expenses by utilizing tax deductions and tax credits that are available to…
The Benefits of a Tax Extension
Extend the Filing Deadline of Your Personal Tax Return Although the due date to pay your individual income taxes is April 15, you can…
Adjusted Gross Income (AGI) vs. Modified Adjusted Gross Income (MAGI)
What’s the Difference Between Your AGI and MAGI? When it comes to calculating your taxes, you will often hear two different terms regarding income: Adjusted…
