Questions on the Legality of the Health Care Tax Law

July 10, 2012 by  | Leave a Comment Filed under: Taxes 

Recently, there have been several controversies about the legality of the Health Care Law and many Americans are confused as to whether the law was actually constitutionally passed or whether there was a flaw in the way it was passed. What are the basics of how federal laws are passed? Is the (read on...)



Tips of Avoiding a Devious Tax Preparer

July 10, 2012 by  | Leave a Comment Filed under: Taxes 

There are many taxpayers who have found themselves on the wrong side of the IRS because they used the services of unscrupulous tax preparers. There are also others who have had their refunds embezzled by preparers. It is therefore, important that you research a tax preparer before signing up for (read on...)

How to Access Your W-2 Forms for Tax Preparation

July 10, 2012 by  | Leave a Comment Filed under: Taxes 

W-2 Forms are given to one from his/her employer or former employer and include the schedule of salaries and wages received and the amount of money deducted and submitted to the tax authorities as payroll taxes. The W-2 form is an important document when preparing tax returns as it contains the (read on...)

Form 8949 – Capital Gains and Losses

July 10, 2012 by  | Leave a Comment Filed under: Taxes 

For the 2011 tax year, taxpayers who have made a capital gain or capital loss will be required to complete Form 8949, Capital Gains and Losses Form, and attach the form to the tax return form. Filing of the Form 8949 will accompany figures indicated in the Schedule D. Prior to 2011, taxpayers (read on...)

Free Tax Services for Military Personnel and Their Family

July 10, 2012 by  | Leave a Comment Filed under: Taxes 

For employees of the U.S Military including the air force, army, navy, marine and coastal guards, one can get tax advice and help from the free tax services provided by the Armed Forces Tax Council. These services are provided at different levels. If you are in the military or you are a veteran, (read on...)

Tax Credits That Are Easy to Qualify For

July 10, 2012 by  | Leave a Comment Filed under: Taxes 

Tax credits are tax relief opportunities that help you save on your taxes, dollar for dollar. Unlike tax deductions that reduce the amount of income to be taxed, the credit is deducted from the final tax amount. This means that a tax credit is equivalent to a payout by the tax authority to the (read on...)

What Expenses Qualify for Tax Deduction?

July 10, 2012 by  | Leave a Comment Filed under: Taxes 

There are various expenses and payments that qualify for tax deductions and therefore, reduce your taxable income. Over the years, different taxpayers and tax professionals have interpreted the tax law to include non conventional expenses for deduction. Some cases have been successful while in (read on...)

How to Report a Suspicious Transaction to the IRS

December 16, 2011 by  | Leave a Comment Filed under: Taxes 

The IRS is always seeking to get to the taxpayers who cheat on their taxes in a bid to reduce the tax gap. One of the ways that they do this is by seeking information from the public. There are various avenues that the IRS has put in place to enable taxpayers report on transactions that they (read on...)

IRS Taxes – Be More Prepared for Retirement

December 16, 2011 by  | Leave a Comment Filed under: Taxes 

As the Social Security continues to hang on the balance with questions as to the government ability to sustain the payments, financial advisers are encouraging people to plan and saving up for their own retirement. Even if the government sustains the Social Security, you will still be better (read on...)

Get Some Tax Savings From Home Energy Credits Before the Year Ends!

December 16, 2011 by  | Leave a Comment Filed under: Taxes 

On November 21st 2011, the IRS posted an article on their website to remind taxpayers that some of the energy efficiency costs would still award taxpayers a tax credit. The remainder must have come as a last minute call as these tax credits will be expired by the end of 2011. These credits were (read on...)