You have worked hard all year, and tax return season is here. The last thing you would want is to have your refund delayed. The turnaround time for tax returns has sped up over the previous several years, but there are simple errors you could be making to delay your turn. Read on to learn why your refund might be delayed this year. Why Is My Tax Refund Delayed? What Could Cause My Tax Refund To Be Delayed? Submitting an Incomplete Return It makes sense that if you complete an application without all the information, you’ll need to do it... View Article
A moment of fear rises in many people when they realize they have missed an important tax deadline. Indeed, it makes sense that people would be fearful when they realize that something like this has passed. Fortunately, the IRS knows that this will happen on occasion, and there are things that you can do. Can I still file my taxes if I missed the tax deadline? There are ways for you to handle your tax situation even after the deadline has passed. You will need to be very diligent about trying to make sure you don’t miss these deadlines in the future,... View Article
Understanding self-employed tax rules can feel like a minefield. When you’re already spending large amounts of time running a business, keeping the books and producing a great service or product, taxes are probably the last thing you want to tackle. Unfortunately, the IRS is adamant about everyone paying their fair share—and it’s always best when you get it done right the first time. Here’s what you need to know about taxes if you’re self-employed. Who qualifies as self-employed? The IRS has three major categories of self-employed people: sole proprietors and independent contractors, being a member of a business or trade... View Article
Summer’s over, but we hope you kept your receipts! Summer camps can be expensive. The average nationwide cost hovers around $200 per week. Now that the kids are back in school, your childcare expenses have probably gone down a bit. What, if anything, can be deducted from your 2021 tax bill? Can you write off summer camp fees and other childcare-related expenses? Read on to learn what you need to know about deducting summer childcare expenses. Introducing the Child and Dependent Care Tax Credit If you want to deduct summer camp and childcare expenses from your 2021 tax bill, the... View Article
