Red Flags that Could Trigger an Audit
Feb24

Red Flags that Could Trigger an Audit

No one likes the idea of being audited. There are even some individuals who are terrified of being audited by the IRS. While you can never know for sure whether you will be audited or not, you will want to avoid these red flags: Failing to report all your income. With multiple incomes, forgetting to report one can happen easily. Try keeping a list of all of your sources of income. Claiming personal expenses as “business...

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Tax filing for newlyweds
Feb19

Tax filing for newlyweds

If you were recently married and plan on filing your taxes this year, they may be slightly different from what you are used to. First, you will need to make sure that all your documents match. If a name change was involved with the marriage, all the documents from the Social Security administration must have the same name. If you have moved, the change of address will need to be documented as well. You will want to check with your...

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Self-employed? You may need to pay taxes!
Feb14

Self-employed? You may need to pay taxes!

If you are self-employed you may need to pay the self-employment tax (SE tax). The SE tax allows you to contribute to the social security system and ensure you will be covered. Generally those who are self-employed with net earnings that are $400 or more or you have church employee income that is $108.28 or more, will have to pay the SE tax and file a Form 1040. There are special rules and exemptions to this for aliens, fishing crew...

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Don’t get scammed this tax season!
Feb10

Don’t get scammed this tax season!

With tax season comes scams! Scammers are looking for an easy way to steal money from anyone they can. A great way for these scam artists to make a good chunk of money is by posing as the IRS. You have probably heard of individuals being scammed because they thought they were dealing with the IRS, but it turned out to be fake. You may be thinking that could never happen to you. Scam artists have found many clever ways to get what they...

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New Tax Law Change May Affect Your Refund
Feb06

New Tax Law Change May Affect Your Refund

Many look forward to tax season because they know they will be getting a refund. But, did you know some refunds will be held until February 15? A new tax law change will not allow refunds for the Earned Income Tax Credit or the Additional Child Tax Credit to be issued by the IRS before February 15. This law does not just apply to the portion of the refund that is associated to those credits. It applies to the entire refund! While...

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