Tag Archive for Tax Time

Tax Time Has Arrived! Are You Ready?

If you’re like most taxpayers, you find yourself with an ominous stack of “homework” around TAX TIME! Pulling together the records for your tax appointment is never easy, but the effort usually pays off in the extra tax you save! When you arrive at your appointment fully prepared, you’ll have more time to:

  • Consider every possible legal deduction;
  • Evaluate which income reporting and deductions are best suited to your situation;
  • Explore current law changes that affect your tax status;
  • Talk about tax-planning alternatives that could reduce your future tax liability.

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Written by | Posted in 2018 Deadlines

Tax Tips For Recently Married Taxpayers

This is the time of year for many couples to tie the knot. If you marry during 2015, here are some post-marriage tips to help you avoid stress at tax time.

1. Notify the Social Security Administration – Report any name change to the Social Security Administration so that your name and SSN will match when filing your next tax return. Informing the SSA of a name change is quite simple. File a Form SS-5, Application for a Social Security Card at your local SSA office. The form is available on SSA’s Web site, by calling 800-772-1213, or at local offices. Your income tax refund may be delayed if it is discovered your name and SSN don’t match at the time your return is filed.

2. Notify the IRS – If you have a new address, you should notify the IRS by sending Read More

Written by | Posted in Tax Planning • Tax Tips

It’s Tax Time! Are You Ready?

If you’re like most taxpayers, you find yourself with an ominous stack of “homework” around TAX TIME! Pulling together the records for your tax appointment is never easy, but the effort usually pays off in the extra tax you save! When you arrive at your appointment fully prepared, you’ll have more time to:

• Consider every possible legal deduction;
• Evaluate which income reporting and deductions are best suited to your situation;
• Explore current law changes that affect your tax status;
• Talk about tax-planning alternatives that could reduce your future tax liability.

Choosing Your Best Alternatives

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Written by | Posted in Individual • IRS • Tax Deductions • Tax Planning • Tax Tips

Freelancer? Avoid These ‘7 Deadly Sins’ At Tax Time

In separate reports, Zen99 and the consumer finance website nerdwallet ranked Los Angeles the best city for freelancers. In 2012, 12% of people in Los Angeles reported themselves as self-employed. Each of these website reports considered housing and health care costs, the percentage of freelancers in an area as factors. Even before the sharing economy began to take off, the entertainment industry and growing tech scene were already strong sources of freelance gigs in L.A.

For freelancers, consultants, actors and other self employed people, life gets complicated come tax time. Digging around for the paperwork to fill out tax forms practically qualify as exercise. Such business people have a nightmare trying to find receipts which is why you should keep track expenses and receipts year round rather than pursuing a paper chase Read More

Written by | Posted in Tax Tips