Blog

Scammers are preying on unsuspecting taxpayers. Most of these tax scams are obvious . None the less, taxpayers continue to fall victim to scammers every day. Here’s a few simple facts that will protect you from the vast majority of scams: 1) Phone calls, text messages, & emails claiming to be from... Read more

Do You Owe the IRS? Not everyone gets a refund. Many taxpayers owe money. It is important to make sure you file timely even though you may not have the money to pay to avoid late filing penalties. There are a number of ways to pay your tax:  Check or money order... Read more

The IRS is developing a “Future State” plan that it says will transform the way the service interacts with taxpayers. Many parts of the plan may ease the processing of filing returns, the issuing of refunds, and the identification and resolution of problems. But the Tax Advocate Service – an independent... Read more

Self-employed workers may have difficulty filing their taxes every year. These workers need to pay taxes on their income in addition to whatever self-employment taxes they might have. However, there are many self-employed tax tips that can help them reduce their tax burdens. Whether workers are fully self-employed or doing... Read more

Joining the military means changing your life. Frequent moves, new skills, and overseas deployments all come with the job description. Even taxes change for members of the Armed Forces. That’s why we’re providing military members tax tips. Over the years, the government has created a number of provisions and perks... Read more

Income tax season is here. College students and their families should learn about available education tax benefits that can help lower their education costs. On average, families spend $24,000 a year on college. However, just over a third take advantage of federal tax credits and deductions to help make college... Read more

Taxes have been levied on people since the beginning of civilization. Since Tax Day is almost upon us, we thought it would be fun to share some of the most interesting tax facts from the long and fascinating history of taxes: The number of words in Atlas Shrugged is 645,000. The Bible... Read more

The tax deadline is just around the corner. Maybe you’re overwhelmed at work or you misplaced the W-2 that your employer sent you weeks ago. Whatever the reason, it looks like you might not make the looming April 18 due date and filing a tax extension may be the right... Read more

It’s crazy to think, but many taxpayers every year fail to take advantage of the tax credits they’re eligible for. With April 18 almost here, make sure you’re up to speed on any credits you may be able to claim, as that could make a serious dent in your tax burden... Read more

Most people who are expecting a tax refund this year or who already have gotten one plan to use the money to improve their personal finances. About a third (34%) say they’ll use it to pay down their debt, and another third (33%) say they’ll save or invest the money,... Read more

The April 18th tax filing deadline is finally in the rearview mirror. Now you might be sitting back, waiting for that refund check to hit your account – or trying not to think about that big one you had to write. Then, all of sudden, you realize you made a... Read more

We all know the annual ritual: once January rolls around, you gather your tax documents to file your tax returns by the deadline to avoid back taxes and unfiled returns. Sometimes (or maybe the whole time!) you need an extension. And maybe you don’t meet the extended deadline, and now... Read more

Got your year-end tax planning underway for December 31, 2015? WE UNDERSTAND that year-end can be a drudge because it means making sure your business accounts are up to date and in order. But don’t leave it until the last minute. No decision, or rushed decisions, can lead to the... Read more

Income tax is often withheld from wages and other types of income such as pensions, bonuses, commissions and gambling winnings. Ideally, taxpayers should try to match their withholding with their actual tax liability. If not enough tax is withheld, they will owe tax at the end of the year and... Read more

Choosing a return preparer before the next tax season allows you more time to consider the appropriate options. Doing it early also gives you the chance to find and talk with prospective tax preparers rather than during tax season when they’re most busy. Furthermore, it enables taxpayers to do some... Read more

With the end of the year approaching, it’s time for strategic moves to lower your 2015 tax bill. Strategy: Prepay deductible expenditures If you itemize deductions, accelerating some deductible expenditures into this year to produce higher 2015 write-offs makes sense — if you expect to be in the same or... Read more

From tax credits and educational expenses to the AMT, many of the tax provisions affecting individuals for 2015 were related to the signing of the American Taxpayer Relief Act (ATRA) in 2012… …tax provisions that were modified, made permanent, or extended. With that in mind, here’s what individuals and families... Read more

The Protecting Americans from Tax Hikes Act of 2015 is a long-awaited legislation which offers a slate of personal and business tax breaks that had expired at the end of 2014. Here’s a quick summary of how the resurrected breaks can affect your 2015 federal income tax return (Form 1040).... Read more

How do you know if someone has filed a tax return using your Social Security number to commit income tax refund fraud? And what do you do then? This is happening all the time—the latest General Accounting Office (GAO) report says that IRS paid out over $5.8 billion in fraudulent... Read more

Welcome, 2016! As the New Year rolls around, it’s always a sure bet that there will be changes to current tax law and 2016 is no different. From health savings accounts to retirement contributions and standard deductions, here’s a checklist of tax changes to help you plan the year ahead.... Read more

Just as the before and after images on the website show the amazing transformations of their clients… So too has local business Jesse James Fit in Flower Mound experienced its own metamorphosis. Office Manager Maddie and Administrative Assistant Sally provided some valuable insight on the weight loss center and elite... Read more

Many surprises could arise from now until next April 15, including life changes and new tax laws. Right now is the best time to create a system that better organizes your taxes and gets you a head start on next year’s filing. IRS offers some handy advice on how to... Read more

With a few weeks left before the April 15 tax filing deadline, it’s that dreaded time of year for those who’d rather give the task of preparing their taxes onto someone else. If you’re one of the 60% of tax filers who plan to hand over your tax affairs to... Read more