From the April, 2013

When Should I File an Amended Return?

If you’ve already filed a tax return and need to make corrections, you can file an amendment using Form 1040X if it’s a personal return or refile the return and select “amendment” if it’s […]

So what do you do if you can’t pay your tax when it’s due?

If you find you owe tax after completing your federal tax return but can’t pay it all when you file, there are some options and some things to keep in mind. Take a Second […]

Want Another Reason to Incorporate Your Business?

If you ever wondered whether or not it made sense to incorporate your sole proprietorship business, the IRS just gave you another reason. In the Taxpayer Advocate’s report to Congress this year, they revealed […]

So What to Do if You Missed the Tax Deadline

April 15th came and went and you didn’t get your tax return or extension request filed – what now? Well, here are a few things to consider: File as soon as possible.  If you […]

Late Filing Penalties for Partnerships and S-Corporations

We often see situations where a taxpayer has significantly underreported their business deductions and could realize a substantial refund of past taxes if the business return was filed. However, for a variety of reasons, […]

Tax Credit for Making Your Home Energy-Efficient

If you made your home more energy efficient, you may qualify for a tax credit on your 2012 federal income tax return. Here is some basic information about home energy credits that you should […]

Making Estimated Tax Payments

One of the most common questions we’re asked by self-employed individuals is “should I make estimated tax payments and if so, how much?” Not everyone needs to make estimated tax payments. However, some taxpayers […]

Tax Credits for Education can help with Tuition Costs

The American Opportunity Credit and the Lifetime Learning Credit may help you pay for the costs of higher education. If you pay tuition and fees for yourself, your spouse or your dependent you may […]

Is Foreign Income Taxable?

Believe it or not, US tax law requires US citizens and resident aliens to report ALL worldwide income to the IRS, including income from foreign trusts, and foreign bank and securities accounts. This applies […]