Basic Tax Terminology You Should Know Tax forms are complicated and hard to understand. The unfamiliar terms they use can make it even more complicated. In this article, we will go over basic tax terminology that you should know. These terms will help you better understand your tax return and how [...]
1099s: The Basics 1099s are forms that show how much income you have earned over the year. These forms document income received from sources other than an employer. There are numerous different kinds of 1099s, all for types of alternative income. In this article, we will go over the most common 1099s and why [...]
Affordable Care Act In 2010 the Patient Protection and Affordable Care Act (PPACA) was brought into effect. It has since then dramatically changed the health-insurance field. It has also caused dramatic changes to taxes. Read more to find out what some of these changes are and how they affect you. Minimum Essential Coverage Starting [...]
Tax Schedules You Need to Know About Most people know tax schedules as the forms named by different letters. What exactly are tax schedules? They are additional forms that the IRS requires you to submit. Tax schedules are usually required when you have certain types of income or deductions that must be accounted [...]
Scammer Filed my Tax Return Are you thinking "Someone Filed My Tax Return?" you might be right. An obvious indicator is you attempted to e-file your tax return and the IRS rejected it. Was the rejection reason that a return with your Tax Identification Number was already accepted? Another might be, the IRS is demanding you repay [...]
Tax Tips Have you been putting off filing your taxes, dreading how much you are going to owe? Don’t stress too much, there are still a few tax deductions that you can make if you act before April 18. We will go through what they are and what you need to do to take them. [...]
Avoid Tax Mistakes: There are many tax myths floating around. Things that have been passed around from person to person. Due to how common they are, many believe them to be true. In this article, we hope to dispel these myths for you so that you do not find yourself in trouble with the IRS [...]
There are many different tax deductions that you can take, some are common, but other are not as well known. This article is to help you maximize your refund and minimize your tax liability by utilizing all of the avenues available to you. Home Office Deduction Many are not aware that there is a [...]
A loan is one such thing, which in today's world, is quite hard to get especially for people with low income. While for some, it works out great as they pay it back quite soon to lease off the burden, others suffer to repay it back. Bad debts refers to when you are not [...]
Understanding Your Required Minimum Distributions The phrase RMD, or Required Minimum Distributions, refers to the amount that you are required to withdraw from any traditional IRAs or employer-sponsored retirement plans each year after you reach age 70 ½. You can take more than the required minimum, but you are not allowed to take less. [...]
