Why Property Tax is a Nightmare for the American Homeowners

Nobody likes to pay tax; this is a universal truth. Since we’re in the mid of income tax season, there’s been a lot of tax policy discussion about the adverse impacts of the property tax that the Americans pay either directly or indirectly.

About a decade back, pollsters at CNN, USA Today and Gallup sought to identify what tax was the most disliked. Many experts expected that income tax would be the topper of this distinction, considering all the time that Americans spend on their returns. Continue reading Why Property Tax is a Nightmare for the American Homeowners

How to Get Rid of IRS Underpayment Penalty

Internal Revenue Service or IRS is not kind enough for the workers who fail to pay taxes in full. So you must avoid any underpayment and penalty by all means. Let’s have a look on how you can avoid them.

Ideally you should know how much tax you should pay and how much have been withheld from your paycheck all through the year and the breakeven. Continue reading How to Get Rid of IRS Underpayment Penalty

Income That Sets You Tax-Free

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

Smart Ways to Avoid an IRS Audit – How to Stop Being Targeted by Uncle Sam

Audit is undoubtedly one of the scariest words for most American taxpayers. Although it’s true that a tax audit can definitely be a matter of gross inconvenience, yet at the same time it is also true that the entire chance of being audited by Uncle Sam is also pretty slim. Just 1% of all tax returns received by the IRS are chosen for a closer and scrutinized view. So, you can be more than sure that you won’t fall in that risky 1%. Continue reading Smart Ways to Avoid an IRS Audit – How to Stop Being Targeted by Uncle Sam

Grab Your Tax Refund as Soon as Possible – Know Some Tips and Advice

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

Important Steps to Take if You Didn’t Receive Your W-2 Statement

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

Managing Freelance Money – Go Easy with Your Income, Expenses and Taxes

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

3 Amazing Ways to Help You Lower Your Taxes in 2017

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

Filling out the Self-assessment Tax Return – What are the Processes Involved?

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?

Save Big Bucks in 2017 after Knowing Few Tax Deductions – Educate Yourself on the Tricks

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