Tax Documents Checklist

The 2018 tax reform bill (known as the “Tax Cuts and Jobs Act”)

The 2018 tax reform bill (known as the "Tax Cuts and Jobs Act")

The following is a quick introduction to the tax changes that may impact you (with one exception) as a result of the Tax Cuts and Jobs Act. This list is by no means exhaustive, but it will help you get your bearings on this bill. SALT SALT is an acronym for “state and local taxes” and relates to a filer’s ability when itemizing deductions to deduct state income taxes and/or sales taxes. In the past, there wasn’t any limitation on the deduction of state and local taxes (and for residents living in states with notoriously high taxes like California and

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Checklist: Settling Your Back Taxes

If you owe back taxes to the IRS that you don’t think you’ll be able to ever pay off, you may have an option to settle what you owe the IRS with an “Offer in Compromise.” This is simply an offer to settle for a smaller amount than what you owe. An Offer in Compromise is a very long process that requires staying up-to-date on your current tax payment plans and making a good faith effort to pay the balances.

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What wealth means in today’s economy

For most people wealth has a direct correlation to their income. Achieving your financial goals and being able to put away money for your family may be more difficult depending upon your situation – but in no case is it impossible. As with tax planning, if you want to build wealth, it is important to evaluate your resources carefully and plan ahead.

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First time filer with limited income? Tax tips for parents, guardians and filers

Are you the parent of a first time filer with limited income? 1040 EZ may be your child’s solution. As a parent you may be reading this with interest as your child is growing up and facing for the first time – his or her income tax return. If your child has been working a part time job and has his first W-2, this is a good year to sit down with him or her and go through this checklist.

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How’s Your Neighbor Spending Their Tax Return? A Peek Through the Curtains

So, you’re expecting a healthy refund from the IRS any day? If you’re like most Americans, you already know exactly how you’ll be spending it. But did you ever wonder what your fellow taxpayers spend their income tax refunds on? And how your plans compare to theirs? Wonder no more – we’ve got the inside scoop on your neighbors’ spending right here. While most people imagine that vacations or big purchases are the most common things people choose to use their refunds on, those make up only a small percentage of the actual ways in which they’re spent. According to

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What’s Your Tax Time Personality? A Quiz

Are you the type who puts off filing your taxes till the absolute last minute, and then pulls a coffee-fueled all-nighter frantically pawing through piles of paperwork and filling in forms till your eyes are crossed?

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Eight Reasons a Tax Refund Will Be Delayed

You’ve completed your taxes, filed your report, and all that’s left to do is to get your refund. But wait! What if it’s delayed? Refunds typically come in about 3 weeks. Do you know why most refunds are delayed?

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Tax Refunds vs. Correct Withholding: Which Makes More Sense For You?

You’ve heard all the hype about income tax refunds. People love them, look forward to tax season because of them, use them for vacations, for big purchases, or to pay off debt.

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No Time To File Taxes? Here’s What To Do

Hey, got a few spare hours to spend doing something you have absolutely no desire to do? Oh yeah – also, it’s mandatory, has a strict deadline, and you can get in major legal and financial trouble if you do it wrong?

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Some Common Income Tax Return Errors

While e-filing has greatly improved the accuracy of taxpayer returns, there are still some common user errors which can cost you time and money. While most of us know April 15th is the deadline, it can easily sneak up on us.

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