IRS to Parents: Don’t Miss Out on These Tax Savers
Children may help reduce the amount of taxes owed for the year. If you’re a parent, here are several tax benefits you should look for when you file your federal tax return:
Taxpayers Will Use New Information Statement to claim Premium Tax Credit
The Affordable Care Act is bringing several changes to the tax filing season this year, including a new form some taxpayers will receive. If you or anyone in your household enrolled in a health plan through the Health Insurance Marketplace in 2014, you’ll get Form 1095-A, Health Insurance Marketplace Statement.
Choose the Right Filing Status
It’s important that you use the correct filing status when you file your tax return. Your status can affect the amount of tax you owe for the year. It may even affect whether you must file a tax return. Keep in mind that your marital status on Dec. 31 is your status for the whole…
6 Tips on Who Should File a 2014 Tax Return
Most people file their tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. This year, there are a few new rules for some who must file. Here are six tax tips to help you find…
The Individual Shared Responsibility Payment
Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act requires each individual to: Maintain a minimum level of health care coverage – known as minimum essential coverage, or Qualify for an exemption, or Make an individual shared responsibility payment when filing their federal income tax returns.
IRS Tip Sheet on Gambling Income and Losses
Whether you like to play the ponies, roll the dice or pull the slots, your gambling winnings are taxable. You must report all your gambling income on your tax return. If you’re a casual gambler, odds are good that these basic tax tips can help you at tax time:
In 2015, Various Tax Benefits Increase Due to Inflation Adjustments
For tax year 2015, the Internal Revenue Service announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2014-61 provides details about these annual adjustments.
New Standard Mileage Rates Now Available; Business Rate to Rise in 2015
The Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
2014 Tax Considerations
CLICK HERE to download the PDF The followings are articles regarding tax law changes and are categorized in: Individual Income Tax Provisions Education Trust, Estate and Decedent Income Tax Estate, Gift and Generation-Skipping Transfer Taxes Pension and IRA Provisions Business Provisions Things to Consider Before The End of 2014 2014 Tax Rate Schedule 2015 Tax Rate…
Top 4 Year-End IRA Reminders
Individual Retirement Accounts are an important way to save for retirement. If you have an IRA or may open one soon, there are some key year-end rules that you should know. Here are the top four reminders on IRAs from the IRS:
