Will You Be Subject to the IRS Tax Filing Delay?

Posted by Amanda on January 13, 2011

Update: For information on the current year tax filing delay, see tax refund delay. Tax Delay 2010 Do you itemize deductions? If so, you might be subject to the IRS tax filing delay this year. With the passing of the Social Security tax break, deductions for state and local sales taxes, an AMT patch, tuition […]

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AMT Exemptions

Posted by Jill on January 10, 2011

The big news last year was about the Obama tax compromise revolving around the Payroll Tax Cut and the extension of the 2001 Bush Tax Cuts. But the tax deal that was passed at the very end of the last Congress included an “AMT patch” to fix to the alternative minimum tax, or AMT for […]

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How Much Money Do You Have to Make to File 2010 Taxes?

Posted by Madison on January 8, 2011

How much money do you have to make to file taxes? What is the minimum income to file taxes? Every year, those are familiar questions that I get. Let’s take a look at the requirements for the minimum income to file taxes in 2010. 2010 Minimum Income Requirements For the 2010 tax year, you need […]

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Payroll Tax Cut: What Your Paycheck Will Look Like

Posted by Jill on December 21, 2010

There’s been lots of news recently regarding the tax compromise that President Obama struck with congressional Republicans. With the extension of the Bush tax cuts, people at all income levels will see their income tax brackets remain the same through 2012, and the AMT exemptions expanded. The tax compromise also calls for a reduction of an […]

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Obama Tax Deal In the Works

Posted by Madison on December 15, 2010

The Obama tax deal is in full motion this week. The Senate moved the new tax deal forward with a procedural vote on Monday. They will vote on the final tax cut today. The tax cut will keep the Bush tax cuts from expiring, which were set to expire at the end of the year. […]

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When You May Want to File an Optional Tax Return

Posted by Madison on November 30, 2010

There are certain times when you must file a tax return. But believe it or not, there are also times when you might want to file a tax return even though you aren’t required to do so! When to File an Optional Tax Return The IRS specifies that you may want to file a tax […]

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How to Save on Taxes This Year

Posted by Madison on October 12, 2010

It’s time to start talking about tax savings! With 4th quarter here, it is time for a reminder on some tax saving strategies, some of which will expire this year. Saving money on taxes is essentially free money, you just need to remember to claim them when you file! I suggest keeping a running list […]

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Poll: Will the Obama Tax Cuts Pass?

Posted by Madison on September 14, 2010

The clock is ticking for Congress to decide the fate on the Obama tax cuts. Will they pass in time for end of the year tax planning? As of right now, the tax brackets are up in the air, you can estimate what your taxes might look like with the 2011 tax calculator. Our current […]

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Do You Have to Pay Taxes on Unemployment?

Posted by Amanda on September 1, 2010

Losing your job can be psychologically and emotionally draining, as well as can suck the life out of your bank account. Unemployment insurance is typically a few hundred dollars a week, which is a fraction of what you used to make, and equates to a salary considered under the poverty line in the United States. […]

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2011 Tax Calculator for Income Tax Planning

Posted by Madison on August 23, 2010

The 2011 tax calculator is finally here, even though we still don’t know exactly what the current tax brackets will be. The Tax Foundation has a 2011 tax calculator that helps you project your 2011 income taxes based on all the options Congress is considering. 2011 Tax Calculator The 2011 tax calculator has 4 scenarios […]

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