1. How To Get Your AGI Number – Tax Tips 2017

    Posted by
    /
    In order to confirm your identity when filing taxes – efiling to be exact – the IRS uses your Adjusted Gross Income, or AGI from the tax return you filed in the prior year. There are few ways to get your AGI: – If you filed taxes using TurboTax last...
  2. Difference Between TurboTax Freedom Edition & Federal Free Edition 2017

    Posted by
    /
    When visiting TurboTax website you encounter two products with very similar names: Freedom Edition and Federal Free Edition. Despite similarity in their names there is a significant difference between the two. One is appropriate for taxpayers filing the simplest tax return regardless of amount of income earned – TurboTax Federal...
  3. What To Do With a Tax Refund?

    Posted by
    /
    This week the IRS will begin processing income taxes many of which will result in a refund. As reported by the IRS, last year the agency processed nearly 50 million individual income tax returns and 83% of them resulted in a refund. This year should not be a whole lot...
  4. Tax Scams in 2017 To Look Out For

    Posted by
    /
    Posted January 17, 2017: In the upcoming months the IRS will start issuing and sending tax refunds to millions of Americans. This is also the time when most tax scams occur. Despite the repeated warning against phishing attacks, many individuals fall victim of this practice. The IRS reminds individuals that...
  5. The 2016 Tax Year Brackets for Taxes Due April 15, 2017

    Posted by
    /
    For income generated in 2016, the tax brackets are as follows:   Why do we have 7 tax brackets? American tax system is also called progressive tax system because it taxes higher earnings at higher level. Common misconception is that once you go from one tax bracket to another your...
  6. The PATH Act & How to Get Your Tax Refund Early in 2017

    Posted by
    /
    In December of 2015 a new law was enacted that would, among other things, help protect taxpayers who file taxes early from identity theft. Protecting Americans from Tax Hikes Act (PATH Act) stipulates that taxpayers who claim Earned Income Tax Credit or Additional Child Tax Credit cannot receive their refund...
  7. Filing State Tax Returns Before The Extension Deadline

    Posted by
    /
    If you live or work in one of the 41 states or the District of Columbia you are required to pay a state income tax. Majority of states align the due dates to file taxes with the federal requirements so if you happened to file for extension to file taxes,...
  8. Clinton vs. Trump Tax Plans – What to Expect

    Posted by
    /
    With the upcoming presidential elections we will not only express our opinions on the political future of our country but the economic one as well. All aspects of presidency can affect our finances, but the one that can be felt directly is taxes. I would like to review differences and...
  9. Tax Tips for the Upcoming October 17 Deadline

    Posted by
    /
    If you’re one of the individuals who requested an extension to file taxes, there are a little less than 3 weeks to complete the process. I suggest to get started organizing all documents mainly because you will be reporting on earning and expenditures that happened over 10 months ago and...