Carol Wise



Author's Latest

  • May 4, 2017

    An Employer Identification Number (EIN) is a 9-digit number issued by the IRS for the purposes of identifying a particular business’ tax account. The EIN format is XX-XXXXXXX.

    EINs are used by employers, sole proprietors, corporations,...

  • October 16, 2015

    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.

    ...

  • October 8, 2015

    A change in life circumstances, whether good or bad, can affect your tax return.

    >> Start Your FREE E-file

    Here are some...

  • October 6, 2015

    A wedding is a joyous occasion – but with marriage comes a host of new tax considerations.

    Whether you are soon-to-be-married or newly married, you should take the time to review your tax situation as a couple. There are a number of steps...

  • September 11, 2015

    Health Savings Accounts (HSAs) are designed to help individuals offset the health care costs associated with High Deductible Health Plans (HDHPs).

    An HSA is defined as “a tax-exempt trust or custodial account you set up with a qualified...

  • June 4, 2015

    Every year, the IRS sends millions of letters and notices to taxpayers for various reasons. There are many different types of notices issued by the IRS — depending on the notice you receive, you may have a range of options for responding.

    IRS...
  • March 23, 2015

    Form 1099-MISC is an information return used to report certain miscellaneous income/payments to the IRS. If you are an independent contractor, or you hire an independent contractor, you...

  • 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

    The...

  • 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...

  • February 10, 2015

    For Federal income tax purposes, it is important to know whether you are an employee or an independent contractor.

    Employee vs. Independent Contractor

    The IRS defines independent contractors as follows:

    “People such as...