Tax Documents Checklist

Are my tips considered earned or taxable income? What if I forget to report some of them?

tips and income tax

Tips are optional or extra payments given to an employee from a customer. The IRS treats tips the same as wages and other forms of income. Failing to report this or under reporting this may be handled similarly to other forms of tax evasion.

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Going to Miss the April 15th Filing Deadline? File an Extension!

If you’re not careful, April 15th — the official IRS deadline for filing your federal taxes — can creep up on you.

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Significant Tax Perks for Owners of Rental Properties

If you’re a landlord of one or more rental properties, chances are you’ve experienced a small headache or two. While being a landlord can come with hassles, it can also include significant tax perks which can help to deliver more bang for your buck than other investments.

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Easing the Burden of Classroom Expenses for Teachers

Grade-school teachers — are increasingly footing the bill for their classroom expenses.

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Things to consider when filing your taxes this year

Save on Taxes is on computer key

After filing electronically, it is important to watch for email notifications and/or return to the software program to ensure the filing was accepted.

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Cashing in on Life Insurance? You are Still Subject to Taxation

The 2017 Tax Cuts and Job Act included revisions designed to create financial options for millions of Americans with life insurance policies.

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Should you continue to itemize or go with the standard deduction now?

Itemizing versus Standard Deduction

For the 2018 tax year, following the Tax Cuts and Jobs Act of 2018 the IRS will reduce the types of allowable deductible expenses for itemized tax returns.

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Want Your Tax Refund Fast?

Maybe you don’t look forward to doing your taxes. However, if you are one of the millions of Americans who expects a tax refund, you are most likely looking forward to receiving it.

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How the 2018 Tax Reform Bill Simplified the Filing Process

“For some taxpayers, it will be a little simpler, for some it will be more complex, but overall it will be familiar and folks won’t think of it as some drastic change,” said Joseph Rosenberg, a senior researcher at the nonpartisan Tax Policy Center.

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Living Abroad? All U.S. Citizens, (Regardless of Where They Reside), May Need to File and Pay U.S. Income Taxes

Most Americans, residing inside the United States, understand that filing an annual tax return and paying taxes is a necessity each year. But for Americans residing outside of the United States there are sometimes questions about who needs to file and pay.

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