Business Tax Classifications There are several different types of business tax classifications that you can choose from with the IRS. Which one you decide to implement will have a large effect on your taxes, so it is important that you understand how they all work. In this article, we will go over the four [...]
Filing Taxes as an American Expat Filing taxes as an American expat can feel very confusing and overwhelming. If you are a United States citizen, you have a tax obligation to the United States. In this article, we will go over the basics of filing taxes as an American expat. Paying Taxes When You [...]
5 Tips to Help You Survive an Audit Finding out you are the subject of an audit can be stressful and scary. But there is some basic information that can help make this process easier. In this article, we will go over 5 tips to help you survive an audit. It Does Not Mean [...]
Tax Advantages of Homeownership When you rent there are no tax breaks available to you. However, if you purchase a townhome, condo, apartment, or single-family home there are tax deductions available to you. In this article, we will go over four of the tax advantages of homeownership. Credit Verses Deduction Tax credits are subtracted [...]
7 Reasons Why Your Tax Refund May Be Delayed How long does it take to get a tax refund? If you efiled and requested a direct deposit you should receive your refund within 21 days. When you efile and request a check it can take up to a month. If you paper file, it [...]
Are Teen Subject to Income Taxes? Are teens subject to income taxes? It will depend on their income level and dependency status. It is important to know when they are expected to pay income taxes and how to do so. In this article, we will cover the basics of whether or not teens are [...]
Filing an Extension Filing an extension is asking the IRS for additional time to file your tax return. It extends the due date of your taxes from April 15th until October 15th. In this article, we will go over when and when not to file an extension, who qualifies, the benefits of filing an [...]
10 Tax Filing Mistakes Tax filing mistakes can cost you money. Whether that is missing out on a large refund or owing more in taxes. There are 10 tax filing mistakes we will review so you can avoid them when completing your taxes. 1. Basic Mistakes Many mistakes are simple. For example, misspelling names [...]
Earned Income Tax Credit The earned income tax credit is a refundable tax credit for low to moderate income families. In this article, we will go over the basics of the earned income tax credit. Who Can File To be able to file for the earned income tax credit, you must have made at [...]
Filing Taxes for a Family Filing taxes for a family can be complex. There are many variables that need to be taken into consideration. In this article, we will go over some of the variables involved when filing taxes for a family. Filing Status You have five filing statuses to choose from. Which one [...]
