Monthly Archives: March 2015

The top method of receiving a refund is by having it direct deposited into your bank account. This is the top way many taxpayers get their federal income tax refund. When combined with electronic filing it makes receiving your refund quick and easy and is one of the safest ways to get your money back. […]

Choosing the correct filing status can not only affect your tax liability but also any credit you may be entitled to at tax time. Some filing status may also determine if you even have to file taxes for the year. According to the IRS, anyone that married before December 31st of the tax year is […]

Planning for the future can be a good investment, whether you decide to build a savings fund through an IRA or 401(k) plan, there is a chance that you may qualify for tax credits. For tax payers with qualifying savings plans you may be eligible for The Savers Credit, which can help reduce your tax […]

Parental Tax Credits

As a parent you may be eligible for additional tax credits. The IRS provides credits that are geared towards parents, these credit can help offset the cost or raising children and can help you save money at tax time. The credits below can be claimed on children who are considered dependents including children born in […]

One fact to remember when trying to figure out the difference between taxable and non-taxable income is that not all income is specifically excluded by to be taxable. Pretty much any tips or wages made from employment is considered taxable income. Also income gained from services and/or property, no matter if it is cash or […]

The Earned Income Credit was put into place almost 40 years ago. This credit has been helping low and moderate income workers boost their revenues. The IRS would like to see everyone that is eligible claim the credit, currently only 4 out of 5 workers are actually claiming the Earned Income Credit. If you qualify […]

At tax time, you may find yourself considering the affect your IRA contributions may have on your taxes. If you’re planning to fund your retirement through the savings you’ve contributed to an IRA, you should be aware of what will be expected each tax season. Traditional IRAs require the contributor to be under the age […]

If you work from home there are some new options for claiming home office deductions making the process simpler and saving you time. Starting this tax year the IRS has simplified the process of claiming deductions when you use your home as a business, not only does it make it easier but it will help […]