The Premium Tax Credit
The Premium Tax Credit
2014 IRA Contributions: It’s Not Too Late
2014 IRA Contributions: It's Not Too Late Whether you are still working or retired, you should periodically review your IRAs. Here are few things to remember.
Contribution limits
If you are still working, review the 2014 IRA contribution and deductionlimits to make sure you are taking full advantage of the opportunity to save for your retirement. You can make 2014 IRA contributions until April 15, 2015.Excess contributions
If you exceed the 2014 IRA contribution limit, you may withdraw excess contributions from your account by the...Parents: Don’t Miss Out on These Tax Savers
Parents: Don’t Miss Out on These Tax Savers Children may help reduce the amount of taxes owed for the year. If you’re a parent, here are several tax benefits that may apply to you: Dependents. In most cases, you can claim your child as a dependent. You can deduct $3,950 for each dependent you are entitled to claim. You must reduce this amount if your income is above certain limits. Child Tax Credit. You may be able to claim the Child Tax Credit...
2015 Tax Season Refund FAQ
2015 Tax Season Refund Frequently Asked Questions How quickly will I get my refund? The IRS issues most refunds in less than 21 calendar days. What is the best and fastest way to get information about my refund? Use can use the IRS2Go mobile app or the Where’s My Refund? tool. You can start checking on the status of your tax return within 24 hours after the IRS has received your e-filed return or 4 weeks after a paper return is mailed. Will I see a date...
Same-Sex Newlyweds Will Be Filing Tax Returns In A New Way
Same-Sex Newlyweds Will Be Filing Tax Returns In A New Way Washington, DC, (February 17, 2015) Despite Alabama Chief Justice Roy Moore’s 11th hour attempt to block same-sex marriages in his state, Alabama has become the 37th state in which gays can legally wed. Like all marriages, same-sex spouses have to follow federal and state tax laws – which can be confusing. For example, what if you’re a same-sex couple from Arkansas, where same-sex marriage is not recognized, but got married in Maine,...
Check Credentials Before You Hire a Tax Pro
Before You Hire a Tax Pro, Check Credentials
Port St Lucie, FL, February 23, 2015—Although you may not have received all of your tax documents yet, it’s not too early to start looking for someone to prepare your tax return. But don’t trust your private financial documents to just anyone. It’s good to know exactly what your tax preparer’s credentials mean – and whether they really qualify as credentials at all.
Enrolled agents (“EAs”) and certified public accountants (“CPAs”) are both licensed...
Port St. Lucie Enrolled Agent is accepted into the ASTPS
Port St. Lucie Enrolled Agent is accepted into the ASTPS Jeffrey Schneider, EA, NTPI Fellow, a Port St. Lucie, EA has been accepted as a member of the American Society of Tax Problem Solvers (ASTPS). ASTPS is a national, not-for-profit association of professionals who specialize in representing taxpayers before the IRS. By becoming a member, Schneider will further add to his high level of skills, knowledge and professionalism in the area of tax representation in order to better serve his clients. Please feel free...
Save Twice with the Saver’s Credit
Save Twice with the Saver's Credit If you are a low-to-moderate income worker, you can take steps now to save two ways for the same amount. With the saver’s credit you can save for your retirement and save on your taxes with a special tax credit. Here are six tips you should know about this credit: Save for retirement. The formal name of the saver’s credit is the retirement savings contributions credit. You may be able to claim this tax credit in...
Six IRS Tips for Year-End Gifts to Charity
Six IRS Tips for Year-End Gifts to Charity Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you should know about before you give. Here are six tips that you should keep in mind: Qualified charities. You can only deduct gifts you give to qualified charities. Use the IRS Select Check tool to see if the group you...
Still Time to Act to Avoid Surprises at Tax-Time
Still Time to Act to Avoid Surprises at Tax-Time Even though 2015 is just around the corner, you still have time to act so you aren’t surprised at tax-time next year. You should take steps now to avoid overpaying your taxes. Here are some actions you can take to bring the taxes you pay in advance closer to what you’ll owe when you file your tax return: Adjust your withholding. If you’re an employee and you think that your tax withholding will fall short of...
