May 29, 2018
The Federal income tax is based on a “pay-as-you-go” system. There are 2 ways to pay as you go: withholding tax or estimated tax. This article discusses withholding tax (also...
February 14, 2018
This year, most individual income tax returns need to be e-filed or postmarked by April 18. If you do not file on time, there is a late filing penalty of 5% on the amount that you owe. This is added to your tax balance for each month (or part of...
December 11, 2017
During the month of December, consider these year-end tax tips that could save you money when April 15th comes around.1) Give to Charity
If you plan on a itemizing your deductions, you can reduce your tax liability with an end-of-year...
October 3, 2016
If you have to move because of your job — whether you’re starting a new job or working at the same job in a new location — you may be able to deduct some of your moving expenses on your income tax...
June 16, 2016
The Earned Income Tax Credit (EITC or EIC), which has been around since 1975, essentially provides a subsidy for low-income working families. To claim this tax credit, you must meet certain eligibility...
October 27, 2015
When you prepare your tax return, you have the option of claiming the standard deduction or itemized deductions.
While the standard deduction is easier to claim, about one-third of...
October 19, 2015
If you have children, you may be able to lower your tax bill by claiming the Child Tax Credit. The Child Tax Credit is a non-refundable credit, which means it cannot reduce your tax...
October 13, 2015
Your tax refund is missing. What do you do?
First, check the IRS’ “Where's My Refund” online tool to make sure that your tax refund has been issued. You can start checking the status...
August 31, 2015
If you receive tips as part of your job, it’s important to realize that all tips are considered income and are subject to Federal income tax.
July 2, 2015
A tax lien is a claim against property that the government uses to protect its interests in tax debt. The IRS will place a lien against your property only after it has sent you a bill and you have not paid it. Being hit with a tax lien is a...