How Do Tax Brackets Work?

Posted by Jill

Are you getting ready to file your taxes? If so, you might find yourself needing a slight refresher on how tax brackets work before the tax deadline. The US tax system is based on a progressive rate structure – the more income you make, the higher tax rate you pay. How Do Tax Brackets Work? […]

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In order to claim the new health insurance premium tax credit on your tax return you need form 1095-A from the health insurance marketplace. Last week the Department of Treasury announced that 800,000 (about 20%) of the 1095-A forms sent were wrong. Corrected forms will be sent this week. The errors impacted tax returns in […]

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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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Prisoners who have been in the system for longer than a year typically do not make much income. In fact, they may not even make enough to be required to file taxes. If you’ve thought about filing a tax return in order to take advantage of your low prison wages and the Earned Income Tax […]

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What is the Kiddie Tax?

Posted by Madison

We recently discussed Do Your Kids Need to File Taxes? I mentioned that if interest, dividends and other investment income are more than $2,000 in 2014, you’re going to get hit with the kiddie tax. What is the kiddie tax and who does the kiddie tax apply to? Let’s take a closer look. Background Children […]

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When filing tax returns, the second question everyone asks is “How long does it take to get my tax refund back?” Of course, the first question everyone asks is “How much is my refund?” Tax Refund Direct Deposit versus Mail If you want to get your refund faster, opt for the direct deposit route. Not […]

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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 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 2014 (and due in 2015). 2014 Minimum Income Requirements The IRS recently released the minimum income to file taxes in 2014. […]

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TurboTax is rolling out a new program this year called Absolute Zero. For a limited time only TurboTax will offer free federal and state tax filing. This is the first time that TurboTax has offered completely free filing (with no extra fees for filing your state return). The free returns apply to simple returns using […]

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We’re pretty familiar with the tax deadline on April 15. 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 the end of December to extend various tax laws another […]

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