Mar 10, 2015 | Tax Laws & Codes, Tax Planning
While much of the U.S. tax code doesn’t have an impact on the average taxpayer, it is still important to be aware of the numerous tax changes that are implemented each year. One of the most important changes of 2014 was the increase in personal and dependent...
Mar 10, 2015 | Deductions, Itemized Deductions, Tax Planning
Instead of going down the tried and trusted standard deduction route, consider itemizing your deductions. If they fall below the standard deduction, it is possible to bundle deductions. Examples of using this as a tax-saving measure include early mortgage repayment or...
Mar 10, 2015 | Tax Planning
The tax system can be complex, and there are a multitude of different forms that need to be filled out. When it comes to tax planning, there is no better way to stay on top of things than by hiring a tax professional. With their help, you no longer have to worry about...
Mar 10, 2015 | Tax Planning, Withholdings
As of 2013, the average tax refund in the United States was $2,800. An estimated 75 percent of U.S. taxpayers have too much money withheld from their paychecks, so they receive refunds, and almost 60 percent of people intentionally plan to receive this refund. While...
Mar 10, 2015 | Estimated Tax Payments, Tax Planning
Estimated tax payments are due four times a year. For 2014 for instance, the dates were April 15, June 16, Sept. 15, and Jan. 15, 2015. You will notice the date for the first payment was the same as the deadline for your 2013 taxes. It may be necessary to redo the...
Mar 10, 2015 | Estimated Tax Payments, Tax Planning
Most people pay their estimated taxes with a certified return receipt and faithfully visit their local post office several times a year. However, it is now possible to enroll in the federal online payment system, go to the correct website, and set up all four payments...
