How to File an Amended Tax Return
We all know filing taxes is not the easiest job in the world (that’s why you hire us to help!) Mistakes do happen from time to time, so what do you do when you realize there is an error after you’ve already handed in your returns? Well, there are two options: The first option is […]
Affordable Care Act Premium Tax Credit
With the implementation of the Affordable Care Act, also known as “ObamaCare,” health care coverage is now required. This can be a heavy burden when you’re on a tight budget. Luckily, the IRS has allowed for a premium tax credit for those who have moderate incomes and need help paying for their health care coverage. […]
Affordable Care Act Individual Shared Responsibility Payment
Health care coverage is now required under the Affordable Care Act, also known as “Obamacare.” If you do not have coverage, the IRS can charge you with an individual shared responsibility payment when you file your taxes in 2015. In their article on the subject, the IRS lists three reasons why you would have to […]
Affordable Care Act Tax Exemptions
As of 2014, if you do not have health insurance coverage or have a gap in coverage, you will have to either pay an individual shared responsibility fee or file for an exemption when you file your taxes in 2015. Wondering how to make the right choices for your health care tax provisions? Here are […]
Why You Might Receive a Notice from the IRS
April 15th has come and gone and the last thing you want is to hear from the IRS; however, sometimes the IRS needs to follow up on tax-related issues and they will send notices that you might need to respond to. Don’t panic! Not all of these letters contain bad news–sometimes you could even be […]
How to Prevent a Tax Headache
Is your tax headache coming? From collecting documents to reviewing write-offs, this can be a stressful time of year. The hardest part, especially for business owners, is the fear that you will owe more than you can handle. The best thing you can do during tax season to stop worrying is get organized. Knowledge is […]