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 [...]
Tax Identification Number Basics A tax identification number, or TIN, is an avenue the IRS uses for tracking. They are all 9 digits long. Except for social security numbers, they are all issued by the IRS. In this article, we will go over the basics of tax identification numbers. Who Needs One Individuals, businesses, [...]
10 Common Tax Questions Answered Taxes are confusing and seem clouded with complex rules and constantly changing laws. It can be hard to find a straight answer to basic questions. In this article, we will answer 10 common tax questions. 1. Where Can I Find Free Help? Tax preparation fees can add up very [...]
Disaster Tax Relief The IRS has special provisions for disaster tax relief. This is only for areas that the federal government confirms as disaster areas. But how can you take advantage of this? Learn more about disaster tax relief in this article. Who Qualifies For the 2012-2025 tax years, any lost or damaged property [...]
Form W-2G Basics Form W-2G, is the form gambling establishments use to report your winnings as income to the IRS. In this article, we will go over the basics of what is involved if you receive Form W-2G. Form Contents First, you must get familiar with what is on Form W-2G. In boxes 1 and [...]
International Tax Treaties International tax treaties are agreements between two countries. The purpose of these treaties is to prevent issues such as double taxation and tax evasion. These treaties can also be known as Double Tax Agreements or DTAs. In this article, we will go over the basics of how international tax treaties work. [...]
