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Income Tax Tips When Selling Your Home
Income Tax Tips When Selling Your Home

Income Tax Tips When Selling Your Home

Category Archives: Individual Taxes

Income Tax Tips When Selling Your Home

Income Tax Tips When Selling Your Home (IRS Tax Tip 2017-13) Homeowners may qualify to exclude from their income all or part of any gain from the sale of their main home. Below are tips to keep in mind when … Continue reading

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Making the Most out of Miscellaneous Deductions

Making the Most out of Miscellaneous Deductions (IRS Tax Tip 2017-09) Miscellaneous deductions are tax breaks that generally don’t fit into a particular tax category.  They can help reduce taxable income and the amount of taxes owed.  For example, some employees … Continue reading

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Newlyweds Should Think About Taxes

Summer Newlyweds Should Also Think About Taxes (IRS Summertime Tax Tip 2017-08 – July 19, 2017) Spring showers bring summer flowers and weddings typically aren’t far behind. Newlyweds have a lot to think about and taxes might not be on … Continue reading

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Members of the Armed Forces Get Special Tax Benefits

Members of the Armed Forces Get Special Tax Benefits (IRS Tax Tip 2017-06) Members of the military may qualify for tax breaks and benefits. Special rules could lower the tax they owe or give them more time to file and … Continue reading

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Summer Camp Costs May Qualify for the Child and Dependent Care Tax Credit

Summer Camp Child and Dependent Care Tax Credit Many parents send their children to summer day camps while they work or look for work. The IRS urges those who do send their children to summer camps or day care to … Continue reading

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Need More Time to Pay Taxes? How to Get Tax Extension

Need More Time to Pay Taxes? How to Get Tax Extension (The following is IRS Tax Tip 2017-40) All taxpayers should file on time, even if they can’t pay what they owe. This saves them from potentially paying a failure … Continue reading

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April 1 Deadline Approaches for Taking Required Retirement Plan Distributions

IRS Reminds Taxpayers of April 1 Deadline to Take Required Retirement Plan Distributions IRS Issue Number:  IR-2017-63 WASHINGTON — The Internal Revenue Service today reminded taxpayers who turned age 70½ during 2016 that, in most cases, they must start receiving … Continue reading

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Check Out Tax Benefits for Higher Education Costs

Check Out Tax Benefits for Higher Education Costs Below the IRS outlines tax benefits in their IRS Tax Tip 2017-31 Higher education costs paid in 2016 can mean tax savings when taxpayers file their tax returns. If taxpayers, their spouses … Continue reading

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What is the Additional Medicare Tax? Will You Be Required to Pay?

What is the Additional Medicare Tax? Below the IRS explains about the additional Medicare tax. Some taxpayers may be required to pay an Additional Medicare Tax if their income is over a certain limit. The IRS would like people to … Continue reading

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Nine IRS Common Filing Errors to Avoid

Nine IRS Common Filing Errors to Avoid The IRS encourages taxpayers to file an accurate tax return. If a taxpayer makes an error on their return, it will likely take longer for the IRS to process it. This could delay … Continue reading

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