Tag: income tax

Q & A and Tips on Accounting, Taxes and Personal Finance.
Simple Tax Myths and Their Truths

Simple Tax Myths and Their Truths

Tax Filing Fact or Fiction? Linda Smith, Enrolled Agent of ATI Pro in Orlando, Florida discusses 6 things you should know. Federal tax returns are always due by April 15th. Not this year! You have 3 extra days until April 18th, 2016 in which to file. Extensions are for filing, NOT for paying. You must […]

March 29, 2016 | By More
E-Filing Taxes and Refunds

E-Filing Taxes and Refunds

E-filing income taxes is becoming the norm for filing individual income taxes. In recent years, tax preparers were required by the IRS to e-file tax returns if they prepared 11 or more tax returns personal tax returns in the calendar year (i.e. 1040, 1040A, 1040EZ and 1041). Additionally, there are several online tax software companies […]

March 29, 2016 | By More
How long should you keep your tax returns and supporting documents?

How long should you keep your tax returns and supporting documents?

How long should you keep your tax returns and supporting documents? According to the IRS, the length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return […]

February 29, 2016 | By More
IRS Audit

IRS Audit

Why is the IRS auditing me? Did I cause my tax return to be audited? How can I prevent or at least minimize the potential of being audited? These are all questions that are asked when a taxpayer receives the dreaded letter from the IRS. Let’s start with what constitutes an audit by the Internal […]

February 22, 2016 | By More
4 Ways to Prepare for Tax Season

4 Ways to Prepare for Tax Season

Tax season has officially begun. Not excited? Don’t worry, this can be a stressful time for a lot of individuals and businesses but it shouldn’t be. Here are four simple ways to help tax season go as smoothly and pain-free as possible. Find a Tax Preparer You Trust – When it comes to your money, […]

February 11, 2016 | By More
2014 Tax Return – What To Expect

2014 Tax Return – What To Expect

If you don’t like surprises at tax time; typically put off your tax return filing until the last minute or do not normally have your year-end paperwork in order, this post is for you. Lisa M. Stiffler – Enrolled Agent, of Lisa M. Stiffler, Inc discusses what you can expect this filing season to ready […]

January 19, 2015 | By More