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...

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,...

Having just a few days left to file 2015 personal income tax can be quite stressful. It’s easy to miss and forget important deductions so here’s a short list of some that you may not think about, but can save you some money. There are many more deductions I don’t...

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...

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...

With the tax deadline looming, here are some last minute things to consider when making your tax payments. Let’s assume for a moment that you owe taxes to the government this year and are pondering your payment options. What are the rules, guidelines, and solutions when it comes to tax...

This is it, there are just few more days to file taxes before the official deadline, and if you still haven’t done it, here are my five cents based on my experience this year: Take your time when preparing your tax returns – even tax software like TurboTax or H&R...

Congratulations to all the new homeowners and with that come some additional tax filing obligations. By now you should have received Form 1098 from your mortgage lender that spells out how much you paid in interest, any mortgage insurance premium, points paid on purchase, and potentially even interest you earned...

A few days ago, the IRS released information about the breach of its security systems in an attempt to file fraudulent tax returns and claim tax refunds. Personal information was previously stolen from other sources and used to obtain e-file PINs, which is used when filing 2015 tax return as...

In a continued effort to adapt its products to diverse needs of business owners, QuickBooks has recently introduced the all new QuickBooks Online Self-Employed made for all of us small business owners. When developing the new line, Intuit specifically had in mind independent contractors, freelancers, and sole proprietors who often use...