Maximize deductions, stay tax compliant, and file with confidence. This section covers personal and business tax tips, IRS changes, and strategies to lower your taxable income and keep more of what you earn.
Facts about the Child and Dependant Care Tax Credit 2009 If you paid someone to care for your child, spouse, or dependant so that you or your spouse could work or look for work, you may be able to reduce your tax by claiming the Child and Dependant Care Credit on your federal tax return. … Read more
W-4 forms should be updated when your tax situation changes. When you were hired at your current job, your employer had you fill out a W-4 form. This form helps the employer take the right amount of taxes out of each paycheck, based on your current filing status and number of personal allowances. It’s important … Read more
Be sure to use the correct filing status when you file your income tax return; choosing the wrong filing status can cost you. If you fail to utilize a filing status that can lower your tax bill, you may end up paying a lot more than your fair share of the tax burden. If you … Read more
With tax season around the corner, many Americans are anticipating an income tax refund. Some are so anxious about their refund that they are willing to take out an exorbitant loan at a cost equivalent to the APR of up to 300%, and higher. The loan will only get the money in their hands a … Read more
Overpaying your taxes all year long to get a tax refund the next year is a terrible way to save money. Do you really want the government to be in charge of your savings plan? Intentionally overpaying your taxes literally takes money out of your pocket, and out of your control. Some people like to … Read more
What should you do with your tax refund? Anyone who anticipates a big tax refund usually starts the year daydreaming about what they are going to do with all that money. Why not start the year off right, and put that money to good use? It’s easy to spend that big chunk of cash like … Read more
