Category Archives: Support

Investment Gains/Losses Tax Tips

Many people do not truly understand the wide-ranging scope of capital gains and losses in relation to investments. While most of us understand that investments in the stock market or bonds are considered eligible for capital gains/loss implications for our …

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Understanding Child Tax Credits

Raising a child is expensive! Between food, clothing, activities, medical expenses and education, money can disappear in a snap. The child tax credit was designed to help families offset this cost. Child tax credits provide major tax relief for many …

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How to Get an Extension to File Your Business Tax Return

Tax deadlines always approach quickly. One moment you’re ringing in the New Year, and the next you’re completely frazzled, running around trying to find missing receipts and panicking about the looming tax deadline. Luckily, there is a way to alleviate …

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Education Expenses and Your Taxes

If you pay educational expenses for yourself or your dependent, there are some tax considerations to keep in mind. In fact, with recent changes to the education credits and deductions allowed, you can claim quite a significant portion of education …

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What is a Business Tax Extension?

The IRS permits taxpayers to request an extension of time to file their annual income tax return. To apply for a business tax extension, you must submit the application (Form 7004) to the IRS. Business extensions are a bit more …

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5 Tax Scams to Know About

As if tax time was not difficult enough with having to file on time, pay your tax liability and ensuring all your exemptions, deductions and credits are claimed; now you need to be aware of tax scams that can further …

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Understanding Bad Debt Deductions

Being able to claim deductions for your personal or business tax return ultimately lowers your overall tax liability. Besides items like mortgage interest for an individual or expenses for a business, there is also a bad debt deduction for business …

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Roth IRA Contributions & Taxes

A Roth IRA is not to be confused with a Simple IRA, traditional IRA, or SEP IRA. All rules and regulations regarding traditional IRAs apply to Roth IRAs (with the exceptions outlined in the IRS information provided for Roth IRAs). …

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How can I amend my Tax Return?

Amending your tax return can be an easy process, but ensuring that you need to amend it and for which reasons sometimes is less clear. This article will outline not only how you can amend your tax return but offer …

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Tips to Avoid Income Tax Extension Complications

All the holidays have passed, we’re well into the New Year and soon it will be April 15th. That means it’s tax time again. But what if you’re not ready or you don’t have all the paperwork you need to …

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