Do I Claim Zero, One, Two W-4 Allowances?

The last thing you want to do is frantically run up to your boss asking “How many allowances do I claim on my W-4?”. Being aware of the number of allowances you are claiming on a Form W-4 [Employee’s Withholding Allowance Certificate]  is important for a variety of reasons. Most importantly, the number of allowances you claim on a… Continue reading Do I Claim Zero, One, Two W-4 Allowances?

Taxable Vs Nontaxable Income

Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there’s more to it than that. Taxable income includes any money you receive,… Continue reading Taxable Vs Nontaxable Income

Taxpayers should remember these tips when searching for a tax preparer

The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. Taxpayers should choose their tax return preparer wisely.  This is because it’s ultimately the taxpayer who is responsible for all the information on their income tax return. It’s important for people to remember that this is… Continue reading Taxpayers should remember these tips when searching for a tax preparer

All taxpayers should know their rights

The Taxpayer Bill of Rights groups the dozens of existing rights in the Internal Revenue Code into ten fundamental rights, and makes these rights clear, understandable, and accessible for taxpayers and IRS employees alike. The Taxpayer Bill of Rights protects all taxpayers working with the IRS. In fact, they lay out the framework to make sure the IRS… Continue reading All taxpayers should know their rights

Check withholding, make estimated payments now

Many taxpayers, at risk for having too little tax withheld from their pay, can avoid a surprise year-end tax bill by quickly updating the withholding form they give to their employer, according to the Internal Revenue Service. Although the tax reform law, enacted last December, lowered tax rates for most taxpayers, it also nearly doubled… Continue reading Check withholding, make estimated payments now

IRS Publication 17 – One Stop For Tax Help

Facing a lot of different tax questions this year? If you are interested in researching some of these issues on your own, the IRS has pulled together an overview of common tax issues in one convenient place — Publication 17, “Your Federal Income Tax.” This updated publication, available on the IRS Web site, contains a… Continue reading IRS Publication 17 – One Stop For Tax Help