Why Tax Consultant is Important

Why Tax Consultant is Important Before we get started with answering the question, let us first understand what a tax consultant is. The simplest possible definition of a tax consultant is someone who can help you reduce your tax liabilities by following some of the best practices. Individuals who qualify as tax consultants are [...]

2017-10-27T13:02:43+00:00 October 27, 2017|Tax Planning, Tax Preparation|0 Comments

Best Investments for Boosting Your Tax Refund

Best Investments for Boosting Your Tax Refund If you go by history or statistics a large number of taxpayers will receive tax refunds. Take the year 2015 for an example, where about 80% of taxpayers received refunds of $3000 or more. Consider that the 80% is out of a total of 150 million individuals. [...]

2017-10-24T10:41:50+00:00 October 24, 2017|Investment & Income, Tax Refund|0 Comments

Earned Income Tax Credit & All It’s Details

Earned Income Tax Credit & All It's Details Taxpayers having income below a certain limit for a specific financial year can benefit from the Earned Income Tax Credit system provided by the United States of America. Under this tax credit system individuals can reduce the tax they owe to the government. In certain cases, [...]

2017-10-20T22:54:51+00:00 October 20, 2017|Deduction & Credits|0 Comments

Taxable Income vs. Nontaxable Income: What You Should Know

Taxable Income vs Nontaxable Income: What You Should Know We all have that feeling that the government is always on the lookout for extracting more taxes from us. That feeling is not too far off if you take into consideration the definition of taxable income. Once all your deductions are taken away from the [...]

2017-10-13T15:33:47+00:00 October 13, 2017|Tax Planning, Tax Preparation|0 Comments

401(K) Other Qualified Pre-Tax Retirement Accounts

401(K) Qualified Pre-Tax Retirement Accounts Increased life expectancy means you have more years to yourself post retirement. And with the constant rise in commodity prices, you would need more money to cover your retirement comfortably. Thus, spending time on your retirement plans is something that will surely pay off in the longer run. In [...]

2017-10-10T15:39:30+00:00 October 10, 2017|401 Plan|0 Comments

1040, 1040A, 1040EZ Which Tax Form Should You File?

1040, 1040A, 1040EZ Which Tax Form Should You File? When it comes to federal income tax filing, there are three forms available for filing the returns IRS Form 1040, IRS Form 1040A and IRS Form 1040EZ. And this is the part that confuses most Americans, which form to choose. Each form has a different [...]

2017-10-06T15:41:39+00:00 October 6, 2017|Tax Preparation|0 Comments

Information about Educator Expenses

Information about Educator Expenses The Internal Revenue Service or IRS allows individuals to claim expenditure such as classroom supplies and materials as tax deductions. This comes in really handy, as there are enough reports and data to show that schools are inadequately funded. And it translates to teachers ending up paying for these supplies [...]

2017-10-03T16:58:16+00:00 October 3, 2017|Education|0 Comments