Tax Tips
On The BlogTrump Takes on Taxes
Trump’s Tax Reform On Wednesday, April 26, President Trump released his tax reform plan for 2017. As promised, he shook things up, proposing one of the biggest tax cuts in American history as well as decreasing the number of tax brackets. Read on to review a...
Can My IRA Save Me Money at Tax Time?
The IRS has incentivized Americans to save for retirement by offering various options for an IRA tax deduction or credit. Please read on to understand more about IRA’s, rules pertaining to Traditional and Roth IRA’s, and learn about available credits. Contribution...
How Long to Keep Tax Records: A Guide
What Kind of records should I keep? In order to know if you should retain a document, you should know that taxpayers have the responsibility to prove entries, deductions, and statements made on their tax return. This is known as the burden of proof. You must...
Avoid the Health Insurance Penalty! Report Health Coverage.
How do I report Health Coverage on my taxes? Who should file? Form 8965, Health Coverage Exemptions, is filed with your 2016 return if you, or anyone on your return, did NOT have health insurance coverage for the entire year. You should file Form 8962 if you...
Enrolled Agent vs CPA: Know the Difference
A little help, please! The Difference between an Enrolled Agent vs CPA Enrolled Agent (or EA) is a type of tax advisor who is a FEDERALLY authorized tax practitioner empowered by the U.S. Department of the Treasury. Enrolled Agents represent taxpayers before the...
Learn the Difference Between 1040 and 1040A and 1040 EZ…Before You Make a Mistake.
When it comes to filing tax returns the simplest form you qualify for can be the best… especially if you want fast processing and the fastest tax refund. This is mostly because there is less chances for a mistake which could cause a delay in processing your return or...
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