Directions On How To File a Tax Extension

Written by Tonya Chin. Posted in Taxes

Unable to file your taxes on time this year? Don’t worry; you can easily get an automatic six month extension of time to file your federal income taxes from the Internal Revenue Service. You don’t even have to have a good reason, as filing for an extension does not require any explanation. However, before you […]

4 Tax Deductions For Homeowners

Written by Tonya Chin. Posted in Taxes

4 Tax Deductions For Homeowners

If you own a home, whether it’s a single-family resident, mobile home, or townhouse, there are certain deductions you can take when filling your income taxes with the Internal Revenue Service. To take the deduction, you must itemize your deductions on Schedule A (Form 1040), which means you cannot take the standard deduction. Itemizing may […]

Tips On How To File Taxes When Unemployed

Written by Tonya Chin. Posted in Taxes

Tips On How To File Taxes When Unemployed

Unemployment rates are trending down, but that doesn’t mean that jobs are easier to find or keep in this sluggish economy. If you are or were unemployed in the past year, there are some important things you should know before you file your taxes. What Is Taxable? Even if you’re unemployed, you still have to […]

Biggest Tax Surprises to Be Aware Of

Written by Ashley Henshaw. Posted in Taxes

Biggest Tax Surprises to Be Aware Of

Think you have an idea of how much you’ll be getting back in your tax refund this year? Think again. There are several circumstances that you might not be factoring in to your potential refund that could cause it to be lower than expected. In fact, you might actually owe some money depending on where […]

9 Different Types of Non-Taxable Income

Written by Tonya Chin. Posted in Taxes

9 Different Types of Non-Taxable Income

If you’re like most employed taxpayers, you probably see a large chunk of your paycheck go to the government each payday. Any income you earn is taxable, according to federal law, unless otherwise specified. Here are some cases that fall into the “otherwise specified” category, when your income may be non-taxable. 1. Gifts And Inheritances If […]

Independent Contractor Tax Deductions, Obligations & Regulations

Written by Jane Genova. Posted in Taxes

Independent Contractor Tax Deductions, Obligations & Regulations

Being what the Internal Revenue Service (IRS) classifies as an “independent contractor” means you have different tax obligations and deductions than do employees. This contingent workforce is growing because it gives organizations the flexibility to only use labor when it needs it and also not have to pay the benefits which employees expect to receive. […]

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