March 27, 2015
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...
March 26, 2015
March 25, 2015
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.
March 19, 2015
If you have been looking for work this past year, you might be in luck come tax time. Certain job hunting expenses are eligible for a tax deduction. You can deduct these expenses whether or not you...
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.
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...
February 24, 2015
Medical expenses, especially if they are unexpected, can take a bite out of your savings. However, you may be able to find some tax relief using these tax deduction tips.Itemized Deduction for Medical Expenses
If you are...
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