Solutions to Make Better Decisions with Your Taxes and Money

Archives for February 2016

Easily Report Business Income & Maximize Deductions with TaxAct 2015

Did you earn income in 2015 as an independent contractor, from a side job or from a business that you own? Even if the amount is small, the IRS considers you a sole proprietor and requires you to itemize your operational income and expenses on either IRS Schedule C-EZ, Net Profit from Business, or Schedule […]

5 Popular Money-Saving Tax Deductions

You can spend a lot of time determining which tax deductions will benefit you most throughout the year – and usually, that’s time well spent. For example, if you’re in the 25 percent tax bracket, every dollar you find in deductions may save you close to 25 cents in taxes. Let’s take a look at […]

Your Options for Health Insurance Coverage

Did you know unpaid medical bills is one of the leading causes of personal bankruptcy in the United States? If you’re self-employed or own a business, your health plays an especially crucial role to your financial well-being and security. That’s why having health insurance is one of the smartest moves you can make. Still looking […]

What IRS Forms 1095-A, 1095-B and 1095-C mean for you

*Updated for tax year 2016 Aside from Form W-2 and the usual tax documents that find their way into your mailbox during tax season, you may also receive a version of Form 1095, which is related to the Affordable Care Act. While many of us already understand what these forms mean, others are still trying to decipher what to […]

5 popular tax credits: do you qualify?

There’s a good reason why people love tax credits. Unlike tax deductions, which lower your taxable income, tax credits lower your tax bill dollar for dollar. However, not every tax credit is the same. There are two different categories – nonrefundable and refundable.

5 Tax Tips Millennials Can Use to File Stress-Free

No matter what 2016 looked like for you, there are many ways you can get more back from Uncle Sam this tax filing season. Check out these tips designed to help millennials, like you, get your biggest refund.

Don’t Leave Yourself Exposed! Protect Your Health and Financial Security

Having health insurance is one of the smartest moves you can make financially. Not only does health insurance help protect you and your family’s health; it helps protect your financial security. An unexpected injury or illness can throw both your health and finances for a loop, and that is the last thing you need. (Did […]

7 Tax Filing Tips Parents Need to Know

The Internal Revenue Service (IRS) offers many deductions and credits that benefit parents and other taxpayers who claim dependents. To take advantage of these tax breaks, here are seven tax filing tips you need to know.

7 FAQs to Better Understand Form 1095-C

*Updated for tax year 2016. In January, aside from receiving your usual Form W-2 from your employer, you may receive Form 1095-C related to the Affordable Care Act (ACA). If you received health insurance outside of the marketplace exchanges in 2016, and worked for a large employer, look for Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to arrive […]