This year the filling deadline for your taxes is April 15, so it’s important to make sure you check your tax withholding with the IRS. If you owe taxes, read on. Below you will find the options available to you, depending on your specific case. What to Do if You Owe and Can Pay Those…
DetailsIf you have children or other dependents you may qualify for a Child Tax Credit (CTC). There have been important changes regarding this tax credit, so it’s important that you stay updated. This post will provide you with the essential information and some tools to determine whether you qualify for this credit. Some Basic Facts…
DetailsThe IRS has very stringent rules and regulations regarding tax deductions, so you want to make sure that you are not requesting a deduction you do not qualify for. Therefore, we have gathered five common expenses not to deduct from your income tax returns. These expenses include over-the-counter medicine, commuting and transportation, family pets, volunteer work, and plastic surgeries. Just remember that there may be…
DetailsEvery year, millions of taxpayers get ready to file their income tax return, a process that is feared by many, but that we all need to take care of. Having to collect and document our expenses can be a daunting task, especially when we don’t have the proper guidance. However, there are other situations that…
DetailsThe year is almost over, and we should start preparing to file our income tax return if we haven’t already. This can be a very daunting task for many of us, especially when we are still not very familiar with the process. Thus, we have decided to share with you five tips for tax season…
DetailsOne of the most common questions taxpayers have is when exactly will they receive their tax refund. First, we need to remember that there are several aspects that will have an effect on when we receive our refund. Also, it is important to keep in mind that the tax reform law that took effect in…
DetailsAs freelance jobs become more and more popular, opting to work as a rideshare driver is a great self-employment alternative that many are choosing nowadays. The way we think about commuting has been forever altered thanks to the popularity of platforms like Uber and Lyft, with an increasing demand for rideshare services, which also opens…
DetailsAs many of us are aware of, there are many business expenses that can be deducted from our taxes, whether we are self-employed, or we are owners of our own company. However, there are so many different types of expenses that businesses of any size make as part of their daily operations, that missing some…
DetailsFor many workers, tips are an important part of their income, as many companies and businesses rely on them in order to cover the wages for their staff. If we count on tips as part of our income, we need to report them to the IRS, as we need to cover our corresponding taxes for…
DetailsDealing with taxes as an independent business owner can get tricky when we don’t have all the information and guidance we need. This can get even more confusing when we have just started to invest in real estate property. However, there are several tax tips we should keep in mind in order to make the…
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