Tax Tips for First Time Filers Filing taxes for the first time? Don’t let all the experts and jargons overwhelm you. At the end of the day, if you understand some very basic points clearly, you shall pass this test as well. If you are out of the college or just took your first job, it [...]
Un-reimbursed Employee Business Expenses Paying more taxes is something that not many of us are fond of. If one pays close attention, there are a lot of ways by which you can reduce your tax liability. And yes, these are all legal ways which the IRS has outlined. For individuals who end up spending some [...]
American Opportunity Tax Credit Tax credit systems are in place to let tax payers deduct a certain amount from their tax liability to the state or federal government based on different programs. One such initiative is the American Opportunity Tax Credit, or commonly known as AOTC. This tax credit system is designed specifically for college [...]
Mortgage Insurance Premiums Mortgage insurance in the simplest of terms is the backup plan for a lender. In the unfortunate event that the borrower is unable to repay the loan, the lender can cash in the mortgage premium and recover the losses. However, there is more to it than what meets the eye. Here are [...]
Medical & Dental Expenses, Medicare Premiums in My Taxes Well, it would be a bit of a stretch to say that most of us don’t want to pay taxes. However, who wouldn’t take a tax deduction if it is available? For all those individuals who are looking out for different ways by which they can [...]
Top 10 Self-Employed Tax Questions and Its Answers A lot of us fancy having our own business. The idea of being your own boss is quite a strong motivating factor. But there is no denying the fact that you have to take care of most of the factors in self-employment. Here are the top 10 [...]
Tax Saving Tips for Contractual and Project Based Employees Being a contractual or project based employee has quite a few benefits when it comes to taxes. For an instance, you are eligible for a few tax deductions without even having to itemize the same. The following are some great ways of saving money on tax [...]
