Every year, tax fraudsters attempt to trick unsuspecting taxpayers into sharing their personal information in order to steal it. During the last couple of years, tax identity theft and refund fraud have become very serious problems, affecting a large number of taxpayers and the IRS alike. Therefore, we must make sure that we do not…
Road rage is an unfortunately common problem that both drivers and pedestrians must face on a daily basis. Learning to control road rage episodes is an important part of every driver’s road to safety. Even when it might sound easier said than done, we need to work hard to get over this aggressive behavior that…
We still have several months before our taxes are due on April 15th. Therefore, we still have plenty of time to start working on our income tax returns. Following this tax preparation checklist will help you get ready for this year’s return, ensuring you don’t miss any document or information. This includes having all your…
As the popular saying goes, it is always better to give than receive. When we make donations to charitable organizations, we never expect anything in return. However, charitable contribution deductions can apply towards your income tax return every year. There are several aspects to take into consideration, though, in order for our donations to be…
Having our own business comes with many different challenges and responsibilities and making sure we overcome all of them while remaining compliant with all our requirements can be tough at first. However, if we took the time to work on a business plan, we might already have a clear idea of the steps we need…
We are less than two weeks apart from the start of this tax season, and we must start preparing to file our income tax return accurately and in a timely manner. However, it is common for people to feel overwhelmed by this process. If we feel stressed or pressured when we think about our taxes,…
Being a business corporation comes with many advantages, including several tax deductions that the IRS allows for expenses that are needed to keep our operations going. There are different types of expenses that can be deductible, including current expenses and capital expenses. Current expenses are the expenses needed to keep our corporation fully operational, while…
Most of us have been in the situation of almost forgetting to complete our Income Tax Return files, whether it is because of our hectic schedules, stress, work, family life, or whatnot. Maybe it only slipped our mind this one time, or there might even be someone out there who thought their income did not…
Every year, millions of taxpayers get ready to file their income tax return, a process that is feared by many, but that we all need to take care of. Having to collect and document our expenses can be a daunting task, especially when we don’t have the proper guidance. However, there are other situations that…
Trying to file our taxes as soon as possible requires careful planning and a decent amount of time. However, the Internal Revenue Service (IRS) made available an online tool that has made the process easier and faster. During the last two decades, there has been a significant increase in e-filing. Last year, 92% of taxpayers…