How to Avoid the Most Common Tax Filing Mistakes

Americans e-filed more than 122,164,000 million tax returns for the 2016 Tax season by the end of April 2017. During this time, more than 51,763,000 million individuals self-prepared and filed returns. With the help of tax software, more individuals are completing taxes without the help of a professional, which can lead to costly mistakes. A […]

Smart Ways to Use Your Tax Refund

Filing taxes is not an event most look forward to each year, however, with nearly 75% of filers receiving a refund, tax season can result in a financial windfall. While anxiously awaiting your refund, consider where you will spend the check once it arrives. Emergency Fund According to a recent USA Today article, 41% of […]

Legal Ways to Lower Your Tax Bill

During the 2016 tax season, Americans had an average gross income (AGI) of $67,564, with a federal tax hit of $9,665. Overall, this means the average family pays taxes at the federal rate of 14.3%. These figures include low-income workers with a negative federal tax bill due to the earned income tax credit. Removing those […]

Changes to the Tax Laws for the 2018 Tax Season

The US tax code is both complicated and ever changing. Each year Congress makes adjustments for inflation, enacts laws, and makes changes to deductions or credits, impacting your return. Some years the changes are small and others dramatic. 2017 did not major changes in the tax code. However, there are a number of adjustments, which […]

Guide to Getting Your Refund Faster

As H&R Block says, “Tax Season is Refund Season.” For those getting refunds you may look forward to tax season each year. Extra money coming in when things are tight gives you a chance to do something you have not been able to accomplish with your regular monthly income.  

Top 10 Tax Terms to Know Before You File

Whether you are preparing your own taxes or hiring a tax professional, understanding the tax language will help you minimize your tax liability. With all the forms and constantly changing tax code, understanding what key terms mean will help you navigate the world of taxes. With an increasing number of companies offering online tax filing […]