Monthly Archives: December 2018

Record Retention

December 24, 2018

Your taxes have been deposited. Your repayment was deposited. You’re planning deductions and expenses for another year. So what should you do with the tax documents for this year? You may need to use the tax documents of your previous year as a reference or as evidence if you are audited. You should save your […]

Categories: General Tags:

Five Tax Credits

December 23, 2018

There are not many things that make you happy about taxes. But tax credits can help to reduce your tax liability, it is a good idea to know what credits you are eligible for and how you can claim them. By using tax credits, you reduce the amount of taxes that you owe for the […]

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Estimated Taxes

December 22, 2018

Under certain circumstances, you may be required to make estimated tax payments, such as not having taxes withheld from your wages or paying too little each paycheck for your taxes. At the same time, self – employed people usually pay taxes by estimates. Four facts concerning the payment of estimated taxes These four tips can […]

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Medical Expenses Deduction

December 21, 2018

If you want to deduct the payment for any type of medical expenditure this year, you must be aware of some new rules that apply to these types of deductions because they can affect your return. If you are looking for deductions for medical or dental expenses, you should be familiar with the following guidelines. […]

Categories: Deductions

Supporting your Parents

December 20, 2018

If you support your parents financially, the federal government wants to help. At tax time, there are a number of different tax assistance options available to parental care providers. The tax season 2018 brings a new dependency tax credit and the ability to claim a dependent from a parent. You may therefore be able to […]

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Deductions without Itemizing

December 19, 2018

Would you like to take the standard deduction? If you’re single, you watch $ 12,000. Pairs married, twice that amount. Perhaps you are considering laying down your deductions to obtain a bigger tax return. If you are, remember that you will need your medical, tax, charity and other expenses receipts. You will also need mortgage […]

Categories: Deductions

Selling your Home

December 18, 2018

Since the real estate market is beginning to show a positive trend, it is a good time to review the tax requirements for selling a home and any related tax breaks. If you sell your primary home (the one you lived in full time), it is likely that the sale will be tax – free. […]

Categories: General

Financially, the time after graduation can be tough. Starting by yourself, looking for a job, trying to pay back money you borrowed for school can all be quite stressful when it comes to budget management. Fortunately, some tax breaks can be claimed by recent college graduates to save money. Student loan interest deduction: borrowers earning […]

Categories: Credits Tags: , ,

Figuring out the Filing Status

December 16, 2018

When your taxes are filed, you need to know what filing status you should use. There are differences between the five different options, and you will choose the one that best benefits you. Make tax time easier and faster by filing correctly. The Big Five The five different status are: single, married, separate married, householder […]

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The earned income tax credit is a way for low and moderate income families to save some money during taxation. The EITC is reimbursable and may reduce taxes owed to families working under certain circumstances to zero. If your income primarily comes from working and not investing, you are eligible. The level of income changes […]

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