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Posts tagged tax return

DOMAs Death, There Are Questions

DOMAs Death, There Are Questions
Tweet Picture from Wikipedia 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 [...]

Should You Expect an Audit?

Should You Expect an Audit?
Tweet 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 [...]

Married Filing ….

Married Filing ….
Tweet  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 [...]

Advantages of Filing a Tax Return Ext...

Advantages of Filing a Tax Return Extension
Tweet 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 letter from a Bookkeeper

A letter from a Bookkeeper
Tweet   Paying 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 [...]

Clients, Time is running down

Clients, Time is running down
Tweet 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 [...]

Should You File a Tax Return?

Should You File a Tax Return?
Tweet 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. Single [...]

Do You Qualify for the Earned Income ...

Do You Qualify for the Earned Income Tax Credit?
Tweet 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 [...]

Two or More States

Two or More States
Tweet 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 [...]

IRS on Publication 17

IRS on Publication 17
Tweet 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 [...]

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