Getting Organized for Tax Time

Caring For A Parent? Claim Them On Your Taxes For Extra Savings

Posted by on Mar 26, 2015 in Uncategorized | 0 comments

A growing number of middle-aged and older Americans are financially and physically supporting other adult members of their family – often parents and grandparents. There are tax benefits available to help out in this situation, but do you qualify to take them? The Rules for Claiming an Adult Dependent There are two types of dependents: qualifying children and qualifying adults. The rules are similar for both categories, but qualifying relatives generally have a lower income threshold to be considered dependents. So, what are the rules for...

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Confused At Tax Time? Here’s An Easy Guide To Your Form 1040

Posted by on Mar 11, 2015 in Uncategorized | 0 comments

Every year, most people must complete Form 1040 to file their taxes.  But how much do you really understand this most fundamental of all personal income tax forms?  It can mean the difference between claiming all money you’re owed and missing out on some. Page One – Taxpayer Information The first page of the full Form 1040 comprise basically three parts: personal information, your income, and adjustments to that income.  The top half of page one is basic information about you and your spouse (if applicable)....

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Need Your Old Tax Info? Don’t Worry, Here’s How You Get It

Posted by on Mar 5, 2015 in Uncategorized | 0 comments

Everyone knows that you need to keep copies of tax returns for seven years.  But the reality is that it’s not always that easy in today’s busy, on-the-go world.  What can you do if you need your tax information but you don’t have any copies? There’s good news – it’s easier to solve this problem than you might think. What Are Tax Transcripts? The IRS receives copies of some of the same tax documents that all taxpayers received from employers or clients.   These are called your tax...

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