Categories for Tax Consultant

Tax Relief for Victims of Natural Disasters: What You Should Know

February 11, 2021

After a natural disaster occurs, your top priorities are going to be making repairs to your home and staying safe. Once you’ve gone through the process of getting your home repaired and filing all the necessary insurance claims, though, it’s important that you start considering the potential tax impacts. Specifically, you can get tax help for hurricanes, floods, wildfires and other types of disasters. Here are a few examples of some of the types of tax help for floods available to disaster victims in Union City, NJ. Obtaining deductions for lost or damaged property Perhaps the most important tax break... View Article

What You Need to Know About How Your Stocks Affect Your Taxes

December 31, 2020

Tax season will be here before you know it—do you know how your stocks are taxed, and how to maximize your credits and deductions to offset them? Profits and dividends are both taxable, so it’s important that you know what to expect from the IRS when you buy and sell shares. Here’s what you need to know about investment taxes in Union City, NJ. Taxes on dividends Dividends are usually taxable, and they are categorized as either qualified or non-qualified. If you have non-qualified dividends, they’ll be taxed at the same rate as your ordinary tax bracket, while qualified ones... View Article

How to Choose the Right Tax Professional

October 1, 2020

Whether you’re the head of a multinational conglomerate or of a family of four, your finances are critical to your wellbeing. That’s why even the most upright Americans can break out into a cold sweat around tax time. You might think that it’s too early to begin choosing a tax preparer in Union City, NJ, but that’s simply not true. If you want to start saving big on your annual or quarterly taxes, you should enlist the help of a talented tax pro or accountant. With so many options at your fingertips, it can be tricky to determine which financial... View Article

Can You Amend Your Tax Return After It’s Been Filed?

August 10, 2020

We’ve all had that “oh no” moment after sending a crucial document and realizing there’s an error. What if you’ve made a mistake during your income tax return, or get some new information that throws the whole thing off? Can you amend your tax return after filing in Union City, NJ? What happens if I have already mailed it? If you’ve already mailed your return or have sent it electronically, that’s it—at this point, you can’t make any changes before the IRS receives it and evaluates it. The only exception is if the IRS automatically rejects it electronically—then you can... View Article

Do You Have to File Taxes Every Year?

July 27, 2020

For the majority of working Americans, filing our annual taxes is a rite of passage that pretty much no one looks forward to. If you’ve ever wished that you didn’t have to file taxes, you’re not alone. However, even if you aren’t legally required, there might be something in it for you. Not everyone has to file taxes, depending on their income level—but there might be some reasons that you choose to do so regardless. Should you file taxes this year in Union City, NJ? Here’s how to decide. Income requirements If you’re single and making under $13,850 if over... View Article

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