How to Make Your Tax Preparer Happy

watch out for shady tax preparers

Over the years, I’ve found that having an accountant prepare my taxes is a great help to me. My taxes are increasingly complicated with the business and the investments that have been added to my financial life. Back when I had a more traditional job, and few financial complications, it was easy to manage my own taxes. Today, though, it can take many of my precious hours to prepare my own taxes. I’m happy to have an accountant take care of everything.

Avoid the Pitfalls of Refund Anticipation Loans

tax refund anticipation loansDuring tax time, it's common to see advertisements claiming that you can get your tax refund "early," or even walk out of a tax preparers office with your refund in hand. Before you get too excited about this, understand that you are likely being offered a refund anticipation loan.

Watch Out for Shady Tax Preparers

watch out for shady tax preparersOne of the ways you can increase your tax refund and ensure that you aren't leaving money on the table is to have a professional prepare your taxes. This year will be the seventh that I've used an accountant to prepare my taxes, and I don't regret it at all.

Did You Double-Check Form 1095-A?

1095cNow that tax season is underway, it's time to double-check your forms and make sure that your information is as accurate as possible before you file. But what if the wrong information you use to file your taxes is someone else's fault?

What is the Taxpayer Advocacy Panel?

taxpayer advocacy panelWhen it comes to paying taxes, many citizens feel as though they aren't heard. After all, the IRS seems like a huge agency that is far removed from the experiences of taxpayers. In past years, the IRS has received poor marks for customer service, although some of the perceptions about the IRS are changing.

4 Tax Time Mistakes to Avoid with your 2014 Tax Return

Now that tax season is in full swing, many taxpayers are workingthrough their documents, trying tolast minute file tips organize everything for their 2014 tax return. As you get ready to file your own tax return, here are 4 tax time mistakes to avoid:

Tax Year 2015 to See Higher Penalty for Uninsured Americans

irs obamacare penalty in 2015 increasesOne of the provisions of the Patient Protection and Affordable Care Act (PPACA, also called Obamacare) is that those who don't obtain health insurance are required to pay a tax penalty.

Obama's 2016 Budget: $280 Billion in Tax Cuts for Some Americans

2016 obama blog post articlePresident Obama has revealed his proposed budget, and it includes close to $280 billion in tax cuts for families with low to middle incomes. The tax cuts for those income brackets would be paid for with about $1.5 trillion in new taxes over the next 10 years.

Pass Through Businesses Complicate Corporate Tax Reform

corporate tax reformI have a business. It’s registered as a Limited Liability Company (LLC), and is considered a “pass-through” business. This means that my LLC doesn’t pay taxes in the corporate system. Instead, the profits pass through the business and are reported on the joint tax return filed by my husband and me each year. As individuals, we pay taxes on the income, but the business itself doesn’t pay taxes.

Could Your Obamacare Subsidy Mean an Unpleasant Surprise for Your Taxes?

obamacare subsidy suprise

One of the features of the Patient Protection and Affordable Care Act (PPACA, also called Obamacare) passed in 2010 is the application of subsidies for those who need help paying insurance premiums. For those who need to purchase health insurance on an exchange, subsidies can help reduce the amount paid for premiums.

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