Category Archives: Tax Preparation

Crowd Funding Can Be A Stumbling Block For Entrepreneurs

In Salt Lake City, designer Jenny Wecker collected pledges in the mount of $42,000 when she used Kickstarter to test market a diaper bag she had created. She received over 300 orders. Previously, she had handmade her product and marketed it on Instagram.

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She indicated that she and her husband never considered the tax impact of such success. Apparently, other entrepreneurs are in the same position as they succeed at crowd funding but don’t realize that the IRS considers them to be small businesses with tax responsibilities.

Abraham Finberg, an L.A. tax accountant, says people are stunned when they … Read the rest

TurboTax And Beating The Competition

If you have not heard of Turbo Tax, you need to find a way to learn about it as soon as possible. The reason for this is that you never have to worry about paying immense fees to a company for doing only a few minutes of work. You will be able to see exactly how much you owe, how much you are getting back, and the amount you can expect to pay for Turbo Tax.

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The problem with going to a tax preparation professional is that you are going to pay a huge deal of money for … Read the rest

TurboTax Can Help You With Your Taxes 2014 Filing

According to the IRS, tax-filing seasons starts Jan. 20

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According to a statement made by the IRS yesterday, taxpayers can being filing their taxes 2014 returns on Jan. 20.

In spite of a last-minute tax law that as passed by Congress and and signed by President Obama, tax-filing season will begin on time.

Early in December, a bill was passed by Congress that extended more than 50 tax breaks that expired at the beginning of the year. This law has extended these tax breaks through the year’s end, making it possible for people to claim these on their taxes 2014 … Read the rest

Talking About Buying A Home

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Things To Know When You Are Buying A Home

Buying a home can be a lot of different things. It will most likely be the most money you will spend on any single purchase. It may be the biggest debt you ever incur. And very likely, it could be the best investment you will ever make. Needless to say, it is a major decision to be made.

There are certainly many ways in which buying and owning a home is going to reflect on your personal income taxes. This is why seeking a consultation with H&R Block prior to making … Read the rest

Five Common Tax Myths Explained

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Ginita Wall points out 5 tax myths that everyone should know about, especially with the deadline for filing right around the corner.

I would like to address some of those common tax myths that most people have heard about, although don’t really fully understand. Another source of information is TurboTax.com and the easy to use site will explain the tax myths as well as ensure that you get the biggest possible refund.

English: United States Internal Revenue Servic...

English: United States Internal Revenue Service Criminal Investigation Division Badge (Photo credit: Wikipedia)

Myth 1:

Despite popular belief, there is no evidence to suggest that if you … Read the rest

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