Paying taxes can be a bit of a drag, so we’ve sorted some of the top Tax Relief Center and FAQs straight from the Internal Revenue Service. As Uncle Ben from Spiderman said, “With great power comes great responsibility,” and as your buying power increases, it is important to keep track of your obligations to the State as well… Click to read more
People with “traditional” employment have their companies withhold taxes from their paychecks and send it to the IRS. Small business owners keep up with the “pay-as-you-go” IRS system by making estimated tax payments.So, how can individual taxpayers estimate their taxes? People should also know they can take advantage of a free tax calculator online. Whether you have an employer or are self-employed, you must know how to estimate taxes this year (especially with the change in tax laws). Here’s how to do that… Click to read more
You use the IRS Form 8283 when you need to report non-cash charitable contributions. It is not for expenses you incur in doing volunteer work, nor for any amount you donated by credit card or by check. If your non-cash gift is worth over $500, you must complete this form. The “amount of deduction” is the deduction before you apply income limits that may result in a carryover. Individuals, corporations, and partnerships use IRS Form 8283. If you are a C Corporation, you may only use this form if the amount you are claiming has a deduction of more than $5,000… Click to read more
Filling out the IRS Form 8962 properly can be stressful. Understanding which forms you need and what credits and breaks you qualify for can be confusing. For those who buy a healthcare plan through the Health Insurance Marketplace, your healthcare needs to be considered. To properly submit your taxes, learn more about what IRS Form 8962 is about here… Click to read more
The Internal Revenue Service (IRS) requires different US tax forms for various tax-related transactions with the federal government. There’s a lot of US tax forms available, and it is probably difficult for a taxpayer to figure out those that are highly relevant and necessary for him or her. Below are just some of the IRS tax forms taxpayers accomplish and submit the most… Click to read more
What have you done this week? Let us know in the comments below.