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 […]
From the Author Archive
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
If you haven’t filed your 2009 federal tax return, or need to amend that return because you didn’t claim all the available deductions, you still have time but you’ll need to act quickly. The […]
Taxes are worse than bills on the pain scale. But tax credits can ease the pain, sometimes substantially. A tax credit reduces the amount of tax you must pay. A refundable tax credit not […]
Retirement savings makes sense for the future but there are also some tax benefits that help along the way. Particularly a retirement savings credit of up to $2,000 if you contribute to a 401(k) […]