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It’s been nearly two months since the United States Supreme Court struck down the Defense of Marriage Act, but there are still many things we don’t know when it comes to how this affects the taxes of couples in same-gender marriages.
Couples Living in a Non-Recognition State
What is the federal tax status of a c [...]
Auditing is every working American’s worst nightmare. The pain of tax season is hard enough with pulling data together, painstakingly entering it on forms, or hiring a professional and waiting to be sure everything is done right without the risk of an audit. Millions of individuals and families in the United States face audits each year [...]
After you say, “I do” you’ll have two filing status options to choose from when filing your 2012 tax returns: married filing jointly, or married filing separately.
Married Filing Jointly
You can choose married filing jointly as your filing status if you are married and both you and your spouse agree to file a joint r [...]
The Advantages of Filing a Tax Return Extension
Although filing a tax extension may seem like an action that only irresponsible or unprepared people take, there are actually some advantages to the strategy. Many people actually use it to their financial advantage. This article will list a few reasons that you might consider filing a tax [...]
A few weeks ago I received the following letter from a bookkeeper with a problem client…. (I changed the names for obvious reasons)
Good Morning Bruce,
My name is Joe Friday and I am the owner of BAM Bookkeeping. I am new to being officially self-employed and in my quest to learn as much as I can ab [...]
In order to allow adequate time to prepare your tax return, we need your tax return information in our office before April 4th. This is to make sure that your return is not hurried or rushed leading up to the deadline. For returns received on or after April 4th, an extension will probably be necessary.
If you are unable to have your ta [...]
Do you ever wonder whether your income is high enough to warrant the filing of a tax return? Because the minimum income level varies depending on filing status, age, and the type of income you receive, it can be a bit complicated.
Use the following guide to determine whether you must file a federal income tax return for 2010.
Millions of Americans forfeit critical tax relief each year by failing to claim the Earned Income Tax Credit, a federal tax credit for low-to-moderate-income individuals who work. Taxpayers who qualify and claim the credit could owe less federal tax, owe no tax, or even receive a refund.
This year it’s even easier to determine whe [...]
If you work in two different states, you will file a tax return in both the states. One state is your Home Tax State with the other state being where you were/are a part year resident. Or as I get a lot of here in Kansas City, You live in one state and work in another. In some cases, you may have even more states.
Last year I had a [...]
Five Facts about IRS Publication 17
While the Internal Revenue Service provides publications about a wide range of topics, there is one publication every taxpayer should have with them when they are preparing their federal tax return. Publication 17, Your Federal Income Tax is available at IRS.gov and contains a wealth of information f [...]