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Filing Tax Returns 101: Errors to Avoid
Filing Tax Returns 101: Common Errors to Avoid Filing a tax return electronically reduces errors because the tax software does the math, flags common errors and prompts taxpayers for missing information. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals – can also help avoid errors. Mistakes can result…
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Get Ready For taxes: Part III
Get Ready For Taxes: Part III Important Things to Know About Refund Refunds As tax filing season approaches, it is important to be ready for taxes. The Internal Revenue Service cautions taxpayers not to rely on receiving their refund by a certain date, especially when making major purchases or paying bills. Some tax…
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Get Ready for Taxes: Important things to know about tax credits
Part 1 With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. It helps to get ready now. This is the second in a series of reminders to help the taxpayers Get Ready for the upcoming tax filing…
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Tax Withholding Estimator
Double Check Your Paychecks With This Tax Withholding Estimator All taxpayers should use the new Tax Withholding Estimator to do a Paycheck Checkup. This tool helps people make sure their employers are taking out the right amount of tax from the employee’s paychecks. The money withheld from an employee’s paychecks throughout the year should cover the amount…
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Benefits to Taxpayers Who Itemize
Benefits of Taxpayers Who Itemize Summer is a season when people have fun, yet get things done. From buying a new house to cleaning their old one, taxpayers who itemize their deductions may have done things this summer that will affect the tax returns they file next year. The higher standard deduction means fewer…
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Car Expense Deductions
The Inside Scoop On Car Expense Deductions Taxpayers who have deducted the business use of their car on past tax returns should review whether or not they can still claim this deduction. Some taxpayers can. Some cannot. Here’s a breakdown of which taxpayers can claim this deduction when they file their tax returns. Business owners…
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Home Office Tax Deduction
Save Money With Your Home Office If you’re eligible, a home office deduction can save you big bucks at tax time. If you’re not, claiming it can get you in big trouble. According to the U.S. Bureau of Labor Statistics over 18 million Americans operate home based businesses. Two million people claim a home…
