It is a good practice to ask yourself “what’s the catch?” whenever you hear that something is free and this time of the year that phrase is paired with filing taxes. It is actually true that you can file your taxes for free but certain conditions must be met. They...

Millions in unclaimed tax refunds still available to taxpayers as every year scores of workers whose income is low decide not to file taxes. Big mistake. There is a misconception that if your income is low (currently below $8,925 for Single taxpayers; $17,850 Married filing Jointly) you don’t owe taxes....

When you owe the IRS for past taxes, in most cases the agency may be willing to work out a payment plan for you to satisfy your debt. Know that your debt with the IRS might not affect your credit score immediately. If you file your taxes on or before...

A deduction, or more precisely a standard deduction, is an amount that reduces your taxable income and depends on your filing status (single, married, etc.) Additionally, deductions factor in age (65 years old and older) and blindness of the taxpayer (Forms 1040 and 1040A only; no 1040EZ). There are also...

On January 31, 2014 the IRS will start processing income tax returns. Below is a list of the most important tax dates for this tax season. Let’s start with the most important. Individual taxpayers April 15, 2014 is the deadline for the following forms (all of these forms can be...

The beginning of the tax season is less than a month away. The IRS will begin accepting and processing tax returns on January 31st and in order to assist taxpayers with general tax questions, it has set up several help options. Besides the information available on irs.gov, the IRS created...

America has always rewarded cleaver and unconventional ideas and the anecdote that follows is a good example of that. It was another hectic Saturday in college football. A fan held up a sign saying, “Hi Mom, send” a Bitcoin logo and QR code for his virtual wallet. ESPN cameras captured...

The Holiday Season is the time of compassion and giving, sharing with those less fortunate. Many of you will claim those donations on your tax returns, so do them right. Here’s a general overview of what to be prepared for. Charitable donations rules: Clothing and Household items – clothing that’s...

As the holidays approach, with Christmas and Hanukkah nearing, it’s the time when many of us fall into debt. This originally spiritual part of the year has been turned into consumption celebration for many Americans. As the shopping hangover rolls upon us in January, we often have the next 12...

Every release of QuickBooks brings some new features and almost always improvements to the existing ones. Some changes are more impactful than others that prompt a question whether or not to upgrade to the latest version. As usual there will be numerous reason to do it, as well as to...