Tips and Taxes

Do you work at a hair salon, barber shop, casino, golf course, hotel or restaurant or drive a taxicab? The tip income you receive as an employee from those services is taxable income, advises the IRS. As taxable income, these tips are subject to federal income, Social Security and Medicare taxes, and may be subject [...]

By |2018-12-10T17:43:29-06:00December 10th, 2018||0 Comments

Ten Ways to Avoid Problems at Tax Time

Looking for ways to avoid the last-minute rush for doing your taxes? The IRS offers these tips: Don't Procrastinate. Resist the temptation to put off your taxes until the last minute. Your haste to meet the filing deadline may cause you to overlook potential sources of tax savings and will likely increase your risk of making [...]

By |2018-12-10T17:42:44-06:00December 10th, 2018||0 Comments

Refund, Where’s My Refund?

Are you expecting a tax refund from the Internal Revenue Service this year? If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in about half [...]

By |2018-12-10T17:41:23-06:00December 10th, 2018||0 Comments

Filing Deadline and Payment Options

If you're trying to beat the tax deadline, there are several options for last-minute help. If you need a form or publication, you can download copies from the IRS Forms page under Tax Tools on our website. If you find you need more time to finish your return, you can get a six month extension [...]

By |2018-12-10T17:41:03-06:00December 10th, 2018||0 Comments

Affordable Care Act

The individual shared responsibility provision requires that you and each member of your family have qualifying health insurance, a health coverage exemption, or make a payment when you file. If you, your spouse and dependents had health insurance coverage all year, you will indicate this by simply checking a box on your tax return. Starting in 2014 [...]

By |2018-12-10T17:40:45-06:00December 10th, 2018||0 Comments

Marriage or Divorce

Newlyweds and the recently divorced should make sure that names on their tax returns match those registered with the Social Security Administration (SSA). A mismatch between a name on the tax return and a Social Security number (SSN) could cause your tax return to be rejected by the IRS. For newlyweds, the tax scenario can [...]

By |2018-12-10T17:40:19-06:00December 10th, 2018||0 Comments

Gift Giving

If you gave any one person gifts valued at more than $15,000, it is necessary to report the total gift to the Internal Revenue Service. You may even have to pay tax on the gift. The person who received your gift does not have to report the gift to the IRS or pay either gift [...]

By |2018-12-10T17:39:55-06:00December 10th, 2018||0 Comments

Deductible Taxes

Did you know that you may be able to deduct certain taxes on your federal income tax return? The IRS says you can if you file Form 1040 and itemize deductions on Schedule A. Deductions decrease the amount of income subject to taxation. There are four types of deductible non-business taxes: State and local income [...]

By |2018-12-10T17:39:32-06:00December 10th, 2018||0 Comments

Foreign Income

With more and more United States citizens earning money from foreign sources, the IRS reminds people that they must report all such income on their tax return, unless it is exempt under federal law. U.S. citizens are taxed on their worldwide income. This applies whether a person lives inside or outside the United States. The [...]

By |2018-12-10T17:39:03-06:00December 10th, 2018||0 Comments
Go to Top