Tag Archives: IRS

Going back to school? Save those taxes

If you, your spouse or your dependent are heading off to college, here are some quick tips that could safe you some money come tax time: 1. American Opportunity Tax Credit- this credit can be taken up to $2,500 each … Continue reading

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Tax Benefits for the Military

Here’s a few tax tips for people who are members of the armed forces: 1. Some members of the military can postpone some tax deadlines if they serve in a combat zone. 2. If you serve in a combat zone, … Continue reading

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Tax Tips When Selling Your Home

Here are a few tax tips to keep in mind when selling your home this year: 1. If you have a capital gain on the sale of your home, you may be able to exclude the gain from your tax … Continue reading

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Tax Tips for New Businesses

If you are starting a business, here are a few things you should be aware of: 1. Incorporation. When you start out, you need to choose the type of structure of your business. Some common types are partnerships, corporations and … Continue reading

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Avoiding Tax Surprises

There are usually two things that you can adjust in order to try and avoid a surprise come tax time. 1. Adjust your withholdings from your paycheck to have the right amount of taxes taken out. Come tax time, if … Continue reading

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Deducting your Job Hunting Expenses

Below is a list of expenses you can deduct when looking for a job: 1. Expenses for a job search in your current line of work but not for a new occupation. 2. The cost of preparing and mailing your … Continue reading

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Tax Tips for Hobbies

Many people think that income earned from a hobby does not need to be reported on your tax return. Here are four tax tips you should know about hobbies: 1. Determine if your hobby is a hobby or business. IRS … Continue reading

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Tips When you Owe the IRS

If you owe the IRS any money, here are a few tips that you might be able to use to remedy your situation: 1. Payment in full. This one is pretty straight-forward. If you pay your tax bill in full, … Continue reading

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IRS gives bonuses to their employees who didn’t pay their taxes

In April of 2014, the IRS announced that it gave out almost $1.1 million in cash bonuses over a two year period to their employees who did not pay or underreported their taxes. In addition, the IRS gave out $2.8 … Continue reading

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Sales Tax Can Getcha

When a company is responsible for collecting sales tax and paying it to Missouri, the corporate officers can also be held responsible. If the officer had direct control, supervision, or responsibility for making the payments, or filed the tax returns, … Continue reading

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