April 15th, otherwise own as Tax Day, is ever nearing. If you're one of the millions of Americans that has decided to put off your filing to closer to deadline day and are trying to jog your memory back into tax filing gear, no worries. That's what this entry is for. Being on the receiving line of an Internal Revenue Service agents phone call or mailing informing you that your tax returns are being audited is a nightmare that millions of Americans have undoubtedly had. A tax audit can turn an otherwise quiet life upside down and cause undue stress on an individual and their family. Finding the right tax professional who is able to find you every deduction, credit, and write-offs can oftentimes seem like an impossible task, but it doesn't have to be. Determining whether or not you have to pay taxes on your Social Security benefits really comes down to two factors: 1) your tax filing status, and 2) the amount of your "combined" income. Generally speaking though, you will not have to pay any taxes on your Social Security benefits at all, if that is your only source of income. Have you ever made contributions to an IRA account, then wondered if you can deduct that investment from your taxes? The simple answer yes, you can, but only in some cases.It all depends on what kind of IRA you contribute to, and in some cases your income level, and if you are covered by an employer-run retirement account or not. Every state figures out a way to collect revenue in the form of taxes, but not every state is equal in how they go about doing that. Some states have a high sales tax while others have no sales tax at all. This piece will focus on breaking down the best and worst states when it comes to their sales tax. Most people's goal every tax season is to figure out how to owe as little in taxes as possible. The purpose of this entry is to help you with that. The goal here is to show you a handful of ways that you can potentially lower your tax bracket through various personal deductions, thereby lowering the percentage you are taxed at, and save you money. The Child Tax Credit is one of the most straight forward tax credits that are available for Americans of all tax brackets. First enacted in 1997 and expanded in 2001, this credit has helped offset the cost of raising an eligible child under the age of seventeen. Ever wonder what would happen if you just skipped out on filing your taxes? You get your paperwork back from your employer, either in the mail or through e-mail, and just think too yourself, ugh, not again. I don't want to go through this hassle again. So you just let the task fade back to a darker corner of your mind, and forget about it. If you own real estate in the United States, you know all about property taxes. And it stands to reason that you feel each and every time you pay that you might be paying too much. Ever wonder if you can proactively get your property taxes lowered? The simple answer is you can, if you are willing to put in a little effort.
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For Tax Day, ITEP has released several new reports that tell a broad story about our nation’s federal, state and local... |
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Despite all the talk about a tax cut after President Trump’s successful overhaul of the tax code, many people are repor... |
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Some Americans are getting a sobering surprise as they finish their 2018 taxes -- instead of getting an expected refund... |
|  | Mon Apr 15, 2019 | pressherald.com
The Legislature should start by fully funding revenue sharing and state education funding. |
|  | Mon Apr 15, 2019 | startribune.com
Minnesota is among a minority of states — just 13 — that impose a state-level tax on Social Security benefits. Why does... |
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Monday is the deadline for Americans to file their personal income taxes. |
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Tax havens cost the U.S. $100 billion in taxes each year. |
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America’s multinational corporations are growing grudgingly resigned to paying U.S. taxes on $2 trillion in profits the... |
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Your Social Security benefit could be taxable. |
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