News


ITINs: A Chance to Participate in the U.S. Tax System

24

Oct 2016

ITINs: A Chance to Participate in the U.S. Tax System

The influx of foreign nationals, non-resident foreign nationals, and immigrants into the United States each year is a demographic phenomenon that has been at the centerpiece of our political and economic discourse for an overwhelmingly large part of our history as a nation. There are a myriad of reasons foreign individuals come to the United States, but for most, the appeal is undeniably the economic…

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How To Know If You Owe Gift Tax

07

Jul 2016

How To Know If You Owe Gift Tax

Are you a generous person? If you’re someone who loves the act of gift giving, you may have heard of the gift tax. The federal gift tax applies to those who have given large gifts or sums of money to friends or relatives. Here’s how to find out if you’re one of the lucky few that has to pay gift tax. The first thing to…

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Deadline Approaching: April 18th is the Last Day to File Taxes

13

Apr 2016

Deadline Approaching: April 18th is the Last Day to File Taxes

Still haven’t filed your taxes yet? Time is running out! Monday, April 18th is the last day to file taxes for 2015. Why the later date? The Capitol will be celebrating Emancipation Day on April 15th, giving you three extra days to get those pesky returns over to the IRS. Estimated tax payments are also due on April 18th. If you need some more time…

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Get Prepped: 2016 Tax Information

07

Apr 2016

Get Prepped: 2016 Tax Information

With tax season in full swing, we’re sure the last thing you want to think about is next tax season. However, the IRS recently announced the annual inflation adjustments for the 2016 tax schedule, and it’s definitely information worth knowing. Tax rate schedules, tax tables, and cost-of-living adjustments are all on the list.    Take a look at the images below, courtesy of Forbes, for…

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Do I Actually Have To File Taxes?

15

Mar 2016

Do I Actually Have To File Taxes?

Have you ever asked yourself, do I really have to file taxes? The short answer, most often, is yes. The long answer may surprise you. There are a select few of us who actually don’t have to file taxes, and this is dependent on your age, your income level, and your filing status. Here’s how to know if you qualify… Use this guide below, courtesy…

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How Should I File?

29

Dec 2015

How Should I File?

If you are married you have the option to file jointly or separately on your federal taxes- but which should you choose? While the IRS recommends that married couples file jointly, there are circumstances that may be a greater benefit to you if you file separate. Couples who file jointly have access to a lot of deductibles, instantly! By filing jointly, you and your spouse…

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Are You A Tax Scam Target?

15

Oct 2015

Are You A Tax Scam Target?

If you’ve read our article on tax scams, you’re aware of some of the common tactics used by frauds in attempt to steal your money. Unfortunately scammers are still out there, and fraudulent tax activity has been increasing, causing the IRS to send out a warning. Read on to find out how you can stay safe this tax season. We’ve mentioned previously that the IRS…

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Everything You Need to Know About Foreign Contractors

28

Jan 2015

Everything You Need to Know About Foreign Contractors

Have you ever used a contractor from outside of the United States? Do you know what tax forms are required for using foreign work services? You may think that all independent contractors require a 1099 form, but if the services are performed outside of the US by a non-US citizen, you don’t have to use a 1099. Here are two sure-fire ways to confirm that…

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Get Prepped For Tax Season

11

Jan 2015

Get Prepped For Tax Season

The IRS recently announced that the 2015 tax season will open as planned this month. While many were fearful that the extended provisions would delay the start of filing, the provisions were renewed by Congress at the end of the year, pushing the final preparations for tax season forward.  You will be able to file your tax return as early as January 20th; both electronic…

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Do You Know Where Your Tax Breaks Are Going?

24

Oct 2014

Do You Know Where Your Tax Breaks Are Going?

If you’ve been planning what to do with your tax refund, you may want to hold tight. Over 50 tax breaks are left in the hands of Congress, many of which expired in December 2013, and some that most likely effect you directly, specifically students, retirees, and homeowners. Congress has not yet approved an extension for many of these popular tax breaks, which of course can…

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