Be sure It´s really the IRS

You can defend yourself against these scammers by knowing these simple rules: Rule 1: Expect a letter first In almost every case, the IRS will send you a letter via standard mail if they need to get in touch with you. This will alert you to expect future communication...

Audit Target: The Sole Proprietor

Each year the IRS publishes their activities in a publication called the Data Book. And each year for the past number of years the number one target of audits are those tax returns with a Schedule C for small business activity. So how to prepare yourself for a...

Basic Financial Documents You Must Have

Basic Financial Documents You Must Have There are some basic financial arrangements that all individuals should consider making, no matter what their age or circumstances. But if you have a family, these basic documents become essential. A Will. As you know, a will...

Think Before Tapping 401(k) as Emergency Fund

Do you need a quick infusion of cash? Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, you may be able to take money out of a qualified plan, like a 401(k), or an IRA, with favorable tax consequences. But should you do it? You might view...

Common Tax Filing Mistakes

With the tax filing extension giving you until July 15th to file your return, it is easy to overlook ways to avoid receiving a letter from the IRS. Here are some of the most common tax filing mistakes: Forgetting a W-2 or 1099. The IRS does an effective job comparing...

Should I Pay My Tax Bill With a Credit Card?

Your tax bill is now due and you may be considering paying the bill with your credit card. Is this a good idea? How does it work? Here is what you need to know The IRS has contracted with a few credit card merchants to offer credit cards as a method of payment. Why...

¿Conoce el crédito por ingreso ganado?

Es un crédito que nace en los años 80, es un crédito que crea el gobierno con el objetivo de favorecer a las personas que tienen bajos o medianos ingresos. Es un crédito reembolsable, por lo tanto le puede dar dinero a usted, recordemos que hay créditos que no son...

¿Qué es la deducción estándar?

¿Qué es la deducción estándar? Inmediatamente pensamos en una cantidad de dinero que me puedo ganar sin pagar impuestos, es una cantidad equis que me permite ganar el gobierno sin pagar impuestos y de ahí en adelante es que empiezo a pagar, si no pasa de esa cantidad...