Job Search Expenses can be Tax Deductible.
Aug17

Job Search Expenses can be Tax Deductible.

Taxpayers who are looking for a new job that is in the same line of work may be able to deduct some job-hunting expenses on their federal income tax return, even if they don’t get a new job. Here are some important facts to know about deducting costs related to job searches: Same Occupation. Expenses are tax deductible when the job search is in a taxpayer’s current line of work. Résumé Costs. Costs associated in preparing and mailing...

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Taxpayers With High Incomes,and Complex Returns need to Check their Withholding Soon.
Aug17

Taxpayers With High Incomes,and Complex Returns need to Check their Withholding Soon.

If summer plans include starting a business, be sure to visit IRS.gov. The IRS website has answers to questions on payroll and income taxes, credits and deductions plus more. New business owners may find the following four IRS tax tips helpful: Business Structure.  An early choice to make is to decide on the type of structure for the business. The most common types are sole proprietor, partnership and corporation. The type of business...

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Starting a Business? Here is Four Tax Tips to help you out.
Aug17

Starting a Business? Here is Four Tax Tips to help you out.

If summer plans include starting a business, be sure to visit IRS.gov. The IRS website has answers to questions on payroll and income taxes, credits and deductions plus more. New business owners may find the following four IRS tax tips helpful: Business Structure.  An early choice to make is to decide on the type of structure for the business. The most common types are sole proprietor, partnership and corporation. The type of business...

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All Taxpayers Need to Check Withholding Now to Avoid Tax Surprises Later.
Aug11

All Taxpayers Need to Check Withholding Now to Avoid Tax Surprises Later.

With the year more than halfway over, the Internal Revenue Service urges taxpayers who haven’t yet done a “Paycheck Checkup” to take a few minutes to see if they are having the right amount of tax withholding following major changes in the tax law.   A summertime check on tax withholding is critical for millions of taxpayers who haven’t reviewed their tax situation. Recent reports note that many taxpayers could see their refund...

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More Tips to Protect Taxpayers from Identity Theft.
Aug11

More Tips to Protect Taxpayers from Identity Theft.

Identity theft happens when someone steals personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund. Many people first find out they are victims of identity theft when they submit their tax returns. That’s because the IRS lets them know someone else already...

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