A Smart Tax Blog For All

You might find yourself in the position of not being able to pay your taxes. This is not easy to deal with. You might at first feel alarmed if you don't have the money to keep up with tax payments. Remember that many people have been through this before. Fortunately, the IRS will help you in this situation. A solution can always be found. You just need to find the right solutions to deal with this unfortunate problem. Get started by learning about the resources that are out there. There are a lot of resources that will help you when your tax debt seems overwhelming.

Personal TaxesKatherine Davis April 10, 2021tax tools, tax preparation servicesComment

What Happens if You File Taxes Late: Taxes 911

Tax time brings about a sense of dread and relief in so many. It comes around every year, and it is the one thing we all have to do is pay taxes. If we do not, there are penalties and possibly jail time waiting for us. That is why it is important to know what happens if you file taxes late.

Personal TaxesJulia PeoplesMarch 31, 2021tax preparation services, tax timeComment

How to File Your Personal Taxes for the First Time

If this is your first time as a taxpayer and you don't know what to do, you need to start by identifying and defining your role and responsibility as well as your tax obligation. It is no use putting it off and it still has to be done. Want to know how to file taxes for the first time? Let’s dive in.

Personal TaxesCheryline LawsonMarch 17, 2021professional tax services, tax refundComment

How Much Money Do You Need to Make to File Taxes

Thanks to tax time becoming so common among Americans, there are many that do not know that they are not even required to file. Others know they are not required but wonder if they should, thanks to the recent stimulus packages provided by the government.

The questions then are how much money do you need to make to file taxes, and are there any additional requirements? The information here outlines the answers to both of those questions and more.

Personal TaxesBrandy WoodfolkFebruary 23, 2021tax online, tax timeComment

Are Health Insurance Premiums Tax Deductible? (Dr. Tax)

Are health insurance premiums tax deductible? The answer is yes, but it has some limitations because it depends on the amount spent on medical expenses and also on the kind of health care services utilized. One of the points of contention is the type of services that qualify as medical expenses.

For that reason, fewer tax payers will qualify for this deduction as you will notice after reading this article.

Personal TaxesCheryline LawsonFebruary 20, 2021tax day, professional tax servicesComment

How Does Claiming Business Losses on Personal Taxes Work?

If this is your first time claiming business losses on personal taxes, you might be confused and feel uncertain in many ways. One common question is this: Can I claim business losses on personal taxes?

The answer is yes- it’s actually a widespread practice. It has been since before all of the changes this year. There are just specific requirements that need to be met, and the filing process must be appropriately handled. (Don’t worry. We’ll get into all of that.)

Personal TaxesBrandy WoodfolkFebruary 14, 2021tax manager, professional tax servicesComment

Where Does Tax Money Go and Why You Should Care?

We want to help you understand where all the money goes that gets taken out of your paycheck each pay cycle. Those taxes you pay do go somewhere, and you deserve to know where that is. Here's some information on taxes, why we pay them, and where the money goes after it leaves our paycheck:

Personal TaxesTimiarah SpriggsJanuary 27, 2021tax filing, tax accounting servicesComment

Payroll Deduction Facts That Will Keep Your Employees Calm

Payroll deduction is necessary to keep the company afloat. Employers are required by the government to subtract certain amounts from each employee’s paycheck. Most times, the deductions include personal income tax and social security, which the IRS receives from the company in advance. The company is like a collection agency for the IRS. If you have a CPA that does your tax management and files your return, you can discuss these deductions to see if they are plausible or necessary.

Personal TaxesCheryline LawsonJanuary 9, 2021taxes due, tax management

Everything about Fair Tax Explained (With Pros and Cons)

Among the public revenues that the State and other Public Administrations have to use in order to finance the needs of the public, taxes stand out the most. These are monetary payments that citizens are obliged by law to contribute to the government.

In the history of the Modern World, few activities are so important and necessary and at the same time hated, as those that have to do with the responsibility of paying taxes. Most people want fair tax and feel that it is not so easy for those who don’t earn enough.

Personal TaxesCheryline LawsonDecember 30, 2020tax free, tax tipsComment

Before You Sell: How Home Sales are Taxed

There's a lot more to the process of selling a house than meets the eye. Selling your home can have a heap of benefits for you when it comes to saving money. But you have to know the right tips and trade tricks to capitalize on your home sale. Keep reading to find out how to do so.

Personal TaxesTimiarah SpriggsOctober 31, 2020tax tracker, tax tipsComment

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