Once more, the government has extended the First Time Homebuyer's Credit. What is important about this extension is that a taxpayer must have purchased the home before May 1, 2010- that portion of the credit requirement did not change. The change, called the Homebuyer Assistance and Improvement Act...
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Taxingly Simple by Tiffany
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Tiffany
on
07-21-2010
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Filed under: first time homebuyers, Home Tax Credits, first time homebuyer credit, Linked-In, New First Time homebuyer credit, #li, IRS, Tiffany Dodson, #ln, taxingly simple, individual income taxes
I hear taxpayers say that they owe, and because of the economy they are not going to file this year. Well, let me make it simple for you- just file! If you fail to file, you will face a penalty and interest at 5% per month capped at 25% by October 15th. So, can you really afford to tack on another 25...
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Taxingly Simple by Tiffany
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Tiffany
on
04-08-2010
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Filed under: IRS, file taxes, tax documents, income tax preparation, tax withholdings, #ln, individual income taxes, offer in compromise, owe IRS, 4868, IRS debt, owe taxes, 9465, extension, tax deadline, Installment Agreement Request, owe income taxes
So you are an employee (receive a W-2) and you have some business expenses required for your job, but your employer does not pay you for them. Can you take them off of your taxes? For expenses to help you on your taxes, you must file a schedule A. So what is a Schedule A? Well, as a taxpayer, you may...
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Taxingly Simple by Tiffany
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Tiffany
on
03-15-2010
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Filed under: #li, linked in, file taxes, income tax preparation, Tiffany Dodson, personal income tax, federal tax, refund, business expenses, individual income taxes, schedule A deductions, itemize taxes, business tax deductions, tax deductions, itemization