Tag Archives: taxes

Losing Your Daycare License for Failure to Pay Taxes

Posted on November 13, 2015 by Camron Hoorfar

In a recent Missouri case, a Missouri resident learned that her license to operate a daycare can be taken by Missouri for failing to pay her utilities and her federal taxes. If Missouri is attempting to take your professional license … Continue reading →

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Missouri Offers Tax Amnesty Period

Posted on September 29, 2015 by Camron Hoorfar

Missouri has allowed a tax amnesty for any penalties and interest for taxes accrued before January 1, 2015 as long as the past-due taxes are paid between September 1 and November 30.  The tax amnesty applies to income taxes, use … Continue reading →

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Tax Tips when you Sell Your Home

Posted on August 27, 2015 by Camron Hoorfar

Here are a few tax tips you should know about when you sell your home: You can usually exclude (not report) any profit or gain up to $250,000-$500,000 that you receive from the sale of your home. You cannot deduct … Continue reading →

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Military Tax Breaks

Posted on August 5, 2015 by Camron Hoorfar

The IRS has allowed for certain tax breaks for members of the Armed Forces. Below are some of the tax breaks provided to servicemen and servicewomen: Members of the military in combat zones receive extensions on the due dates of … Continue reading →

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Deducting a Disaster

Posted on June 11, 2015 by Camron Hoorfar

Deducting a Disaster If you suffer a loss to your personal property or real estate because of a natural disaster, you may be able to deduct the losses you incur.  Here are some tax tips to keep in mind when … Continue reading →

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Fixing your Tax Mistakes

Posted on April 23, 2015 by Camron Hoorfar

If you made a mistake on your tax return, you may want to amend your tax return to fix the problem.  Here are a few tips about amending your tax return: Use Form 1040-X to amend your federal tax return. … Continue reading →

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Tax Procrastinator

Posted on April 21, 2015 by Camron Hoorfar

Tax day (April 15) has come and gone.  If you didn’t file or forgot to file your income tax return, you may be hit with a few penalties.  The failure to file penalty is assessed when a taxpayer does not … Continue reading →

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No Money, Better File

Posted on April 14, 2015 by Camron Hoorfar

Did you prepare or are getting ready to prepare your income taxes?  If so, and you owe more than you can afford to pay, don’t make the mistake of not filing your income tax return.  Even if you cannot pay … Continue reading →

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Explaining Estimated Tax Payments

Posted on April 8, 2015 by Camron Hoorfar

Any taxpayer that owes $1,000.00 or more on their most recent tax return must pay estimated taxes.  Estimated tax payments are tax pre-payments that must be made throughout the year, before the return is filed, to make the IRS feel … Continue reading →

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Premium Tax Credit

Posted on March 6, 2015 by Camron Hoorfar

If you purchased healthcare through the Marketplace, you may be eligible for premium assistance by claiming the Premium Tax Credit on your 2014 income tax return.  When filing your income tax return, your tax professional needs to reconcile the advance … Continue reading →

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