IRS (Internal Revenue Service) tax is implied on just about everything. Taxable income may be defined as the gross income (every income from any source derived) minus deductions. That’s a vast territory that not only covers your income from wages but also unearned income from your investments. Even if there is something got on a cash-free basis, the value of the item you get as barter exchange will be taxable. In a nutshell, whether from your employer, prize winning, freelancing or even gambling jackpots, you must include your income to Uncle Sam’s tax roll. Continue reading Income That Sets You Tax-Free
As we know that there’s always a silver lining to every cloud, the silver lining to the most intimidating task of preparing tax returns is the tax refund which soon follows it. Once you send your tax returns to the IRS, you probably become too curious about receiving your payment. If you are worrying about the 2017 tax refund schedule, you’ve clicked on the right article. Let’s check out when you can expect to get your money. Continue reading Grab Your Tax Refund as Soon as Possible – Know Some Tips and Advice
So, are you ready to file your taxes except for a single thing – that you’re for an IRS W2 form from your employer? Every year in the month of January, all companies issue W2s to let their workers know the total amount of money which the employee made in the previous year. How much did they make in income, how much in Medicare taxes, Social Security and taxes? If you file tax return without all your W2s, this could unnecessarily delay the entire process and also the arrival of the refund. Continue reading Important Steps to Take if You Didn’t Receive Your W-2 Statement
Are you new in the world of freelancing and cringing about how to manage your overall personal finance including your income, expenditure and overwhelming taxes? Have no worry; it’s not that complicated. You can surely manage your money and finance with the help of an income tax consultant or professional accountant. Continue reading Managing Freelance Money – Go Easy with Your Income, Expenses and Taxes
People keep on working harder by the day during their professional life so that they might earn a substantial amount of money which would give them a retired life in the true sense when they cross the age limit to be a professional any more. But in today’s world, just earning money is not sufficient to give you a rich life after your superannuation. A whole lot of planning needs to go that way in order to not only lead but also to sustain an economically healthy life even after you have closed even the final chapter of your professional life. Here are some of the hacks which would help you in sustaining your hard earned fiscal resources and continue to be wealthy for longer periods. Continue reading Enjoy a Rich and Hassle Free Retired Life
Smart tax planning should be a year-round activity – it’s not about something you should take care of when you finally prepare your tax return. No matter whether you’ve filed last year’s tax return, you must think about 2017 taxes.
Here are three things you can do in 2017 to curtail your taxes and enhance refund as well. Continue reading 3 Amazing Ways to Help You Lower Your Taxes in 2017
Taxes are usually not blessed with a good reputation for provoking excitement but in 2016, more than 388,000 taxpayers left their tax calculations unless it was 31 st January, which was their deadline date to file their tax returns. As per rough figures, 10.5m self-assessment tax returns were filed on the right time but again 880,000 people forgot about the midnight rebate that they got for filing the tax returns for the year to 5th April, 2016. Continue reading Filling out the Self-assessment Tax Return – What are the Processes Involved?
As we know that tax time is coming near, most of you may be hunting some of those interesting and money-saving tax breaks due to which you can pay a bit less to Uncle Sam. Even after the election of the new President, there is enough good news for the taxpayers as the President-elect has promised to reduce taxes for the Americans and help them save their dollars. You are even fortunate enough to grab some of the biggest opportunities to get the benefit of tax provisions which have been created to save money. The concerns of this article will deal with some of the most valuable tax deductions that you should know of if you wish to save your dollars. When it comes to tax filing, you always require seeking help of some of the best income tax consultants Miami Florida but despite that you should remain aware of the few tax deductions listed below. Continue reading Save Big Bucks in 2017 after Knowing Few Tax Deductions – Educate Yourself on the Tricks
In 2017 taxpayers will get an extra weekend to compose and submit their tax returns. New type of scrutiny of 2 tax credits will mean a delay in refunds until late February for all those taxpayers who are going to claim on tax credits. These are going to be the two big changes about which Uncle Sam is warning people as the country prepares itself for the next income tax season which is going to start on the 23 rd of January, 2017 which is a Monday.
If you are one of those people who like to be prepared ahead of time, then this is the perfect time to start thinking about your tax filing plans. Many of you may not even think about tax returns till April rolls in but the smart thing to do is to plan ahead. So, what are some of the things you should be doing right now to make your tax planning easier for the next fiscal year? Let us take a look.