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7 Important Life Changes That Impact Your Taxes

7 Important Life Changes That Impact Your Taxes

With life, situations change and they come with certain tax implications. One year makes a difference. From getting married, transitioning into a new job to having your own bundle of joy, your tax situation changes as well. Here are some examples. 1. Tying the knot Getting married is a big step in everyone’s lives. Along […]

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Can I Deduct My W-2 Job Expenses?

Can I Deduct My W-2 Job Expenses?

The new tax season brought in a lot of changes, and your job expenses are one of them. If you’ve noticed on your tax returns that you can’t deduct your W-2 job expenses for 2018, you’re partially correct. Unfortunately, not everyone can claim their out-of-pocket job expenses. Here’s the breakdown. Eligibility The new tax laws […]

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How are Charitable Deductions Affected by the TCJA?

How are Charitable Deductions Affected by the TCJA?

Generosity has its perks, or rather its tax benefits. Keep in mind, taxpayers are able to easily itemize once they exceed their standard deduction. This typically happens by taxpayers claiming charitable donations along with any expenses they have. It then becomes greater than their standard deduction. However, the standard deduction is twice the amount for 2017. […]

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What Are Allowances on a W-4?

What Are Allowances on a W-4?

You must pay tax to the IRS but your W-4 form lets you decide when to pay it. When beginning a new job, you may remember your employer handing over a W-4 form (along with the pile of other paperwork) to fill out. Your W-4 form determines how much tax is withheld from your income […]

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Can I Still Get My 2012 Tax Refund?

Can I Still Get My 2012 Tax Refund?

Start your engines! The last day to claim your 2012 tax refund is April 18th, 2016. Many of us recognize April 18th as the deadline to file our 2015 tax returns. Did you know that it is also the last day to file a 2012 tax return and claim a tax refund? The IRS has […]

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How to Complete a W-4 if You’re Married

How to Complete a W-4 if You’re Married

Tie the knot in your life and also on your taxes. The honeymoon is over and it’s back to reality. With such a huge change in your life, it’s important to pay attention to how it will affect your taxes. Once the wedding bells in your head subside, update your W-4 form with your employer. […]

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How to File your First Tax Return

How to File your First Tax Return

Filing your first tax return is a bit like doing your laundry. You don’t want to do it. You’d prefer someone just did it for you. But if you don’t do it, you know there will be consequences.  Unlike laundry, you’ll need to do a bit more sorting, as in sorting through of all those […]

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