As part of the benefits of serving the country, military members have access to tax perks that are not available to normal civilians. This can range from multiple tax exemptions to automatic extensions for tax filing season. Watch this video for details.
While most people dread getting a call from the IRS, the truth is that there are a few different reasons why the agency may need to get in touch. However, it’s important to beware of scammers who claim to be from the IRS in order to try and trick you into paying them money. The best way to avoid falling for these scams is to know how the IRS will actually reach out to taxpayers. Watch this video to be more informed and avoid becoming a victim of fraud.
Filing your taxes can be a daunting task, but once you have completed and submitted your tax return, you may be eager to find out when your refund will arrive. Luckily, the IRS offers a free tool called Where’s My Refund that allows you to check the status of your refund at any time.
Are you a taxpayer whose total of itemized deductions is close to the standard deduction amount for your filing status? If so, “bunching” your tax deduction may be a good choice for you. Watch this video to learn more about tax bunching and how you can do proactive planning to maximize the benefits.
If you are a custodial parent, you may release a child’s dependency to the non-custodial parent for tax purposes. But are you fully aware of the effects it will have on both your and the other parent’s tax returns? This video will give you a quick explanation on the ramifications of releasing a child’s dependency.
If a taxpayer cannot file their tax return by the April due date, they can file for an extension of time. If you need help getting an extension, contact us today.
The statute of limitations for claiming refunds expires on April 18, 2022, for 2018 returns. If you still want to claim your 2018 refund or make an amendment to your return, time is running out.
When divorced or separated parents have young children it often becomes argumentative as to who claims them. The IRS actually has rules that answer that question. This video will give you a quick explanation of this tax issue. If you need a detailed answer for your specific situation, please give us a call.
Inheritances can come in different forms–some are taxable while some are not. Tax treatments for different types of inherited securities can vary and lead to unexpected results without proper planning. Watch this video for a quick view of how your inheritances can be taxed.
Are you an educator teaching in kindergarten through grade 12? A part of your unreimbursed teaching expenses during the year can be deducted from your tax return. Watch this video for details so you can take advantage of this.
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