1. Health Care Coverage – Reminder for those filing taxes on October 15

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    2015 marks the second year of the mandatory health coverage. Hopefully you have had health insurance throughout this and past year and if you received subsidies to your plan from the government (premium tax credit), it is time to report it. Remember that it is the income you earned in...
  2. IRS Tax Relief – Valley and Butte Fire 2015 Victims

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    On September 23 the IRS issued a statement confirming that it will provide tax relief to the victims of Valley and Butte Fires that raged in California (both fires at this point are nearly 100% contained). The relief applies to the resident and business owners residing in Lake and Calaveras...
  3. How to Improve your Credit Score

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    Whether you like it or not, any applications that ideal with borrowing money will involve looking into your credit history. The banking industry found a way to quantify it by giving us credit scores ranging from 350 to 800 that is also a predictor of default. This will not only...
  4. Hold on to your Tax Returns

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    For most of us April is that time of the year when we are required to sit down and report our financial information to the IRS for the previous year. Once the tax returns are filed we set them aside and forget about them. My recent experience tells me that...
  5. Summer Camp Expenses/Deductions on your Tax Return

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    Summer is in the full swing and thousands of children are spending time at summer camps. Although tax season is still months away, there are certain instances in which you’ll be able to claim a tax credit for some of those summer camp expenses. Not every summer camp expense is...
  6. IRS Breached – The Latest News Updated May 27, 2015

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    Updated May 27, 2015 – The IRS reported a breach at one of its online services that might affect as many as 100,000 U.S. households. The perpetrators used personal information, obtained from other sources, to steal previously filed tax returns and file for fraudulent refunds. It appears that the thieves...
  7. Online Tax Tools for 2015

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    With just a few days left to file taxes the IRS still expect to receive millions of tax returns. Before those returns are filed, many taxpayers will head to the local IRS offices for help. With limited resources and little time left, the IRS anticipates very long lines and wait-time...
  8. How To File a 2015 Tax Extension with TurboTax

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    There are only 3 days left to file taxes and you may have to file for extension to get some more time to organize all the necessary documents. If you’re using TurboTax to file taxes this year, there is an option within the software to help you get it done...
  9. How to Handle Tax Problems – Updated April 2015

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    For the first time this year taxpayers have to share information about their health insurance with the IRS. The taxpayers who do not have health coverage – except for certain situations that can exempt them from health coverage requirement – may face penalties. This additional level of reporting and potential...