A frequent question we get throughout the year is: How long should I keep records and tax returns?
Here is a helpful guide to follow:
Monthly statements of investments until an annual statement recapping the year’s activity is available, bank statements, copies of checks used for tax deductible expenses and payroll statements until your W-2 arrives and you confirm the information matches. Read More
On June 15, 2012, the U.S. Department of Homeland Security (DHS) announced that it would not deport certain undocumented youth who came to the United States as children. Under a directive from the DHS secretary, these youths may be granted a type of temporary permission to stay in the U.S. called “deferred action.” The Obama administration called this program Deferred Action for Childhood Arrivals, or DACA. This article is designed to provide guidance for tax professionals preparing and filing tax returns for DACA recipients.
Procrastination of tax returns is not a unique phenomenon. In fact, a lot of tax payers file their tax returns in the last two weeks before the deadline. Filing tax returns earlier than the deadlines is better as you are not rushed and chances of making mistakes is also lower. However, if you are racing against the deadline clock for your returns, here are some tips to help you get through.
Organize Read More
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