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income tax

Caregiver Costs Qualify as Medical Expenses

Certain caregiver costs can be included as medical expenses for iteming your deductions on Schedule A for your tax return.

Withholding Tax Without Income?

Did you know you can have tax withheld from a distribution from an IRA without having to recognize income from the IRA?

Do You Need a Friend at the IRS?

If you need help dealing with the IRS, the Taxpayer Advocacy Service may be just the ticket. They’re really your only friend at the IRS.

IRS Penalties – 8 Facts You Need to Know

Just a few facts you should know about the IRS penalties that may apply to you if you do not file or do not pay your taxes.

Tax Deductions for Property Damage from Disaster

When you have a loss due to a federally-declared disaster, you may be eligible to deduct some or all of your loss on your tax return.

The Affect of Earnings on Your Social Security Benefit

How do current earnings impact your Social Security benefit? Surprisingly, the impact can be felt in several different ways,

How to Get Your Prior Year Tax Return Information From the IRS

If you need your information from a prior year’s tax return, here’s how the IRS suggests that you can get this information.

Avoid Errors In Your Tax Filing

Common errors in tax filing that you can avoid easily by paying attention to detail and using available software tools.

Adjusting Your Withholding and Estimated Tax Payments

If you regularly have a large tax payment or large refund, you should review and adjust your withholding to be more efficient.

You can’t deduct IRA losses any more

Prior to 2018, you had the ability to deduct IRA losses from your income via Schedule A. As of the passage of TCJA, this deduction is no longer available.

Why are Social Security benefits taxed?

Why are Social Security benefits taxed? This article explores the history behind this seemingly “tax on tax” situation and provides some clarity.

The 1040X – 15 Facts About Amending Your Tax Return

Do you understand all of the rules for amending your tax return? It’s important to get this right, or you might end up having to amend again or pay up.

Time for your paycheck checkup!

This time of year is a perfect time for a paycheck checkup to make sure that you are having enough tax withheld from your pay. Do it soon!

Mid-year estimated payments checkup

It’s a good idea to do a mid-year estimated payments checkup to make certain you are having enough tax withheld throughout the year.

Mid-year withholding checkup

It’s a good idea to do a withholding checkup early in the tax year to make sure that you’re having the proper amount of tax withheld from your paychecks.

Exemptions and Dependents for 2017 Tax Returns

It’s important to know the rules regarding dependents and exemptions for your 2017 tax return. The determinations can be complicated.

Taxpayer Bill of Rights – Do You Know Your Rights?

Do you know your rights as a taxpayer? There’s a Taxpayer Bill of Rights, and you should become familiar with it. Know your rights!

Traveling for Charity? You may have deductions

If your volunteering activities find you traveling for charity, you may be able to take valuable tax deductions for your travel expenses.

What to do When You Owe Taxes

If you have found yourself in a situation where you owe taxes to the IRS, there are ways to arrange a payment plan with the IRS. Here’s how.

IRS’ Offer in Compromise

The IRS has a process to provide a compromise when you owe taxes and penalties and you have no capacity to pay. The compromise is a reduction in the tax.