How to File for a Tax Extension

Posted by Amanda on April 18, 2016

Today is the tax deadline. Have you filed your tax return yet? If you are mailing your tax return, it must be postmarked today. If you are efiling with a program like TurboTax, you must submit your electronic return today. But what if you cannot meet the tax deadline? There are certain circumstances when a […]

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5 Ways to Reduce Your Taxes as an Investor

Posted by Don on April 11, 2016

I recently had my tax appointment with my accountant and realized just how much of a tax savings I had because of the smart things I did with my investments. The great thing here is that the things I did to help keep my tax bill low weren’t difficult to do. Ways to Reduce Taxes […]

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17 Tax Deductions for the Self Employed

Posted by Madison on April 7, 2016

Self employed tax deductions are an important part of offsetting your extra income when filing your federal tax return. For example, if you are flying for business, one of the 7 Commonly Overlooked Tax Deductions is baggage fees! An old business partner wanted to know what he needed to keep track of for his venture […]

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Do You Have to Pay Income Tax on Social Security?

Posted by Madison on March 17, 2016

Do you have to pay income tax on social security? How will it impact the taxes on your other income from interest and dividends? Whether or not your social security benefits are taxable depends on your total income and filing status. In addition, it changes from year to year, so while your social security benefits […]

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Should You Reverse Your Roth IRA Conversion?

Posted by Jill on March 10, 2016

When you file your tax forms, you report contributions to an IRA or Roth IRA. You also report completed conversions (and corresponding tax liability) from one type of account to another. Finally, you can use your tax forms to reverse your Roth IRA conversion by recharacterizing your Roth IRA back to a Traditional IRA. Income […]

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When is the Tax Deadline? It’s Not April 15

Posted by Madison on February 25, 2016

The 2016 tax deadline for your 2015 tax return is on April 18, 2016. Why is the Tax Deadline Not on April 15? Emancipation Day Holiday. Sometimes the tax deadline is delayed due to the Emancipation Day holiday. This year the tax deadline is extended for everyone even though all states do not observe the […]

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Do Your Kids Need to File Taxes?

Posted by Madison on January 26, 2016

Usually filing taxes for the kids is an afterthought. Only after people scramble to finish filing in time for the tax deadline do they realize they didn’t even think about the kids. Let’s put in on the radar earlier this year. Will you remember to file taxes for your kids? If your kids earn interest […]

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How to Calculate Self Employment Tax

Posted by Madison on January 19, 2016

Did you recently start your own business and need to learn how to calculate your self employment tax to file your tax return? If you are an individual who is self employed, you have many advantages over people who are employed by companies. Of course, you get to set your own hours and rates, which […]

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When is the Earliest You Can File Taxes?

Posted by Madison on January 14, 2016

We’re pretty familiar with the tax deadline on April 15 (although it’s extended to Monday, April 18, 2016 this year). However, the first day to file taxes each year often depends on what Congress has done recently with any new laws that were implemented. This year is no different as congress signed new legislation at […]

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How Much Money Do You Have to Make to File Taxes?

Posted by Madison on January 11, 2016

How much money do you have to make to file taxes? What is the minimum income to file taxes? Let’s take a look at the requirements for the minimum income to file taxes in 2015 (and due in 2016). 2015 Minimum Income Requirements The IRS released the minimum income to file taxes in 2015. For […]

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