5 Education Tax Credits and Deductions You Don’t Want To Miss in 2010

Education is very important for families because it provides unlimited opportunities for individuals who have one. The government knows this so as much as possible they would like to help by providing numerous education tax credits and deductions to both the people who are pursuing it and for the people that are teaching or providing […]

Tax Break For Homeowners Selling Their House

Homeownership is still considered as one of the American dream as most of us really wants to have a piece of America. Aside for the emotional benefit of homeownership, it has a built in various financial benefits that you can never achieve if you are just renting. One of the most common financial benefit are the […]

$1.1 Billion Tax Refunds Expiring Soon! Are You One Those Who Have Not Claimed It?

Did you know that $1.1 billion unclaimed tax refunds are about to expire soon? The IRS just recently announced that these refunds are expiring on this year’s tax deadline, which is April 18, 2011. The law requires that the return be properly addressed, mailed and postmarked by that date. If you are one of those […]

March Madness: How the NCAA Helps You Get Away With Watching Games At Work

March Madness is probably the next big thing after the Super Bowl event. Advertisers are probably paying an arm and a leg just to get spots in this 3-week event. The games are available in multiple TV stations now such as the CBS, TNT, TBS, and TRU. This tells you how a lot of these […]

How To Get An Extension To File Your Tax Return

Tax filing is really hectic and very stressful especially if you are filing the long form and you are still waiting for various documentations. Others may be out of the country during that time while others may have a very difficult tax return that requires thorough preparation. If you think you are not going to make […]

How to File An Amended Tax Return When You Made A Mistake on Your Taxes

When you made a mistake on your tax return, you should file an amended tax return to make that correction. However, please keep in mind that you can only amend returns that you processed for the past three tax years so you need to be aware of the time limitations. For example, if you file […]

Individual Retirement Accounts (IRA): A Quick Overview

Nowadays, majority of the companies offer a retirement plan and the most common type is the 401(k). However, if your employer does not offer one, you can still save for retirement and enjoy the tax-deferment features by opening an Individual Retirement Arrangement or IRA. In the past, not many employer offer a retirement plan at […]

3 Ways You Can Obtain Copies of Your Prior Year Tax Return

You should always keep copies of your tax return for a variety of reasons. The first one is for the tax audit. If a tax auditor made an inquiry on your taxes, you should be able to go back to what you’ve reported. In most cases, IRS can only audit your return for the past […]

What To Do If You Still Have Not Received Your W-2

As you know, if you work for someone else, you will need to have your W-2  from each of your employer in order for you to prepare and file your taxes. A W-2 is a Wage and Tax statement that shows the following information: – your gross salary and/or wages – federal and/or state taxes […]

Has Your Employer Made Any Cuts Lately? Mine Did!

The economy seems better than it was two years ago. The Dow Jones has hit the 12,000 points mark and unemployment rate seem to be going down as the months passes by. On a recent statistics by BLS, the unemployment has dropped to 9% in January. However, there are still a  lot of companies that […]

The 457 Retirement Plan Hardship Withdrawal

On my previous post, I talked about making a hardship withdrawal on your 401k and 403 (b) but now let’s take a look at the 457 retirement plan, which is a deferred contribution retirement plan for the government employees. It should be noted that some government employees may actually have both the 401(k) plan and […]

How To Check The Status of Your Tax Refund Check

Because of the recent changes in tax laws for tax year 2010, taxpayers are unable to e-file their returns until February 14, 2011 to allow the IRS to change their system. You can always receive your refund faster if you e-file your tax return and use the direct deposit method. Normally, the turn around time […]