Get More Money Back on Your Tax Return with help from the Tax Cuts and Jobs Act

May 1, 2018 Donald West 0


Is it accurate to say that you are expecting a tax refund for your business this year? Look at this. There’s an approach to get a considerably greater refund, regardless of the extent of your business. This year the Tax Cuts and Jobs Act (TCJA) becomes effective, a law that may offer immense tax benefits for people with Qualified Business Income (QBI) through an organization, S Corporation, LLC or sole proprietorship. Here’s the manner by which to qualify your business for the new tax reasoning under the Tax Cuts and Job Act.

Whatis the Tax Cuts and Jobs Act?

The greatest feature of the Tax Cuts and Jobs Act is that people might have the capacity to deduct up to 20% of their QBI when documenting their taxes. We characterize QBI as the net measure of increases, misfortunes, wellsprings … [Read the rest]

Tips for Amending Your Tax Return

December 14, 2017 Donald West 0

When it comes to tax return, there are people that are wondering if they can really amend their return and make some changes without getting penalized. The good news is that it is possible to amend some changes to your return, but then you need to make sure that you are doing it correctly. This is the only way that you can make sure that you aren’t going to get penalized:

Doing it before the deadline

When you realize that you have made a mistake on your tax return file, and you want to make changes to it, you need to make sure that you are doing it before the deadline and before your tax refund is paid out to you.

Otherwise, you might need to pay the money that you received too much back to the IRS. The … [Read the rest]


How Long Does it Take to Get Your Tax Refund Back?

October 2, 2017 Donald West 0

A common question heard at tax time is that how long does it take to get my refund back? Consumers, those who struggle in tough economic times, look forward to the financial increase that a tax refund provides. The good news is that the IRS ensures the necessary tools to find the status of a federal tax refund just one click away.

However, with state refund checks, it is a small trickier because you need to know which state agency controls the tax return process. We will guide you through the IRS’s guidelines for when how long the refund check would take, and review the appropriate channels for getting both state and federal tax fund questions answered.

Federal Tax Refunds

The way you pay your taxes, via either U.S. mail or electronic filing, commands how long it usually takes to … [Read the rest]

2017 Tax Season Refund Frequently Asked Questions

February 26, 2017 Donald West 0

Many tax payers are not well equipped with their tax returns information. After filling the tax returns form, various questions lingers in the mind of the taxpayer, here are the list of the questions to all tax related problems and their answers which will demystify many tax myths:

For how long should my tax refund take?

A normal tax refund should take less than 21 days after the refund application is made. However, some reasons can lead to a delay which may depend on individual cases but the most common reasons being impersonation or identity theft. Other returns may take much longer time is additional review is needed before making the payments.

What should I do to get the tax refund the earliest possible?

There is not a faster way of making the Internal Revenue Service make quick tax refunds … [Read the rest]

tax returns

Maximize Your Tax Return With Miscellaneous Deductions

December 29, 2016 Donald West 0

The tax season is almost here and Certified Public Accountants continue to watch the news on “fiscal cliff” updates. The tax season could become more difficult for tax payers as the news on tax credits continues to be up in the air. In order to minimize any liability, folk need to pay attention to miscellaneous deductions. No matter how small or insignificant you may feel they are, the sum of all the “other” deductions may help a great deal on your final tax return.

The IRS provides standard deductions for every tax payer. Depending on your filing status and how many dependents can be claimed, the deduction is often a decent amount. All itemized deductions are reported on Form 1040 Schedule A. There are also some “miscellaneous deductions” which can also be claimed on this for. Meet with your local … [Read the rest]

tax preparation

How to Find the Right Accounting Firm or Tax Preparation Expert to File Your Tax Return

December 29, 2016 Donald West 0

Every time tax season rolls around, you’re inundated with advertisements for tax preparation specialists and do-it-yourself tax return software. If you aren’t a financial whiz by nature, you may already find doing your taxes to be stressful and overwhelming – and going with the wrong tax preparation method can only add to the stress. If you decide to take your tax return to a professional accountant or tax preparer, follow certain guidelines to ensure you trust your financial future to someone who’s knowledgeable, reliable, and trustworthy. Make sure you are dealing with the expert by reading some reviews about their service reputation online.

Research Their Qualifications

Ensure that you’re hiring someone who knows their stuff by checking their qualifications. Ask if the preparer is affiliated with any certifying organizations, and whether their firm or parent company requires any continuing education. … [Read the rest]

tax return

How To Deal With Preparing Your Tax Return

December 29, 2016 Donald West 0

Quit withholding paying your taxes until the final minute! If you would like the most efficient tax returns, you need to begin early to make sure that your get all of the deductions you deserve. Your individual tax return should not be rushed. So, to help you receive what you are entitled to, here is a list of potential issues you need to do in order to make sure you are fully prepared.

First, schedule a time to begin filing your tax returns and stick with it. Turn off your television and radio and concentrate on what you have to do. Collect all of the files you wish and have some type of tax assist accessible to you. Using the guidelines for revenue tax returns continuously altering you wish to possess all your assist at your disposal.

Determine whether or … [Read the rest]