How to File an Extension with the IRS
Two days left! You only have today and tomorrow to file your income tax return before the IRS’ first filing deadline. Luckily, you can get more time, if you know…
Category: Tax
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Personal Tax Deductions You Shouldn’t Miss
On Tuesday, I offered three types of deductions that make life a little easier for the self-employed. I also want to offer some tax-saving tips for you wage earners who… -
Three Tax Deductions that Make Life Easier for Schedule C Filers
I encounter a lot of Schedule C filers in my practice. These are the people that in some way work for themselves. The self employed have a lot to deal… -
Understanding the Alternative Minimum Tax
In my series on what you need to know about your income tax return, I mentioned a part of your Form 1040 that needed its own post – the alternative… -
What You Should Know About Your Income Tax Return
Income tax preparation has kicked into full gear at the office. I went in both Saturday and Sunday to stay top of managing everything that we have going on right… -
Reader Question: Should We File Our Taxes Jointly or Separately?
A few readers have recently asked about the advantages and disadvantages of filing Married Filing Jointly (MFJ) and Married Filing Separately (MFS). This distinction has become especially important for all… -
Demystifying the Premium Tax Credit
Last week, I gave an overview of how Obamacare will affect your tax return this year. As a reminder, not much will change for the majority of us. But thoseof… -
Understanding How Obamacare Affects Your Tax Return
I can feel the tax tension rising at work. Our clients’ tax preparation questionnaires are flowing in, and we’ve started planning how to ensure we have everything done by the… -
What Happens If You Contribute Too Much Money to Your IRA?
Can you feel it? Tax season is coming. I spent the majority of my workday yesterday organizing our preparation questionnaires so we can get to work shortly after the filing… -
The Tax Loophole that Can Provide Big Savings for Illinois Same-Sex Couples
I got a really interesting case last week that has shed some light on a little known rule for same-sex couples who get married in Illinois. Even more intriguing is… -
What is an HSA and should I use it?
Happy Tuesday! I received another great reader question that couldn’t be more timely. With a lot of open enrollments going on right now (Healthcare.gov just opened over the weekend), the… -
Interesting Tax Lessons from the Filing Deadline- October Edition
Another filing season down. With the stress of the second filing deadline gone, I can finally enjoy the rest of the fall and get ready for the holidays. And even… -
What You Need to Know About Missing the October 15th Tax Deadline
Happy Tuesday! It’s that time of the year again. The second tax deadline has come. And if you’re one of the estimated 3,250,000 people that haven’t filed yet, you only…