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  • Steps to Claiming an Elderly Parent as a Dependent Updated for Tax Year 2017 OVERVIEW If you cared for an elderly parent, your parent may qualify as your dependent, resulting in additional tax benefits for you.  The first thing ...
    Posted Jan 15, 2018, 7:33 AM by Nhat Vuong Tran
  • How to Figure Out Adjusted Gross Income (AGI) Updated for Tax Year 2017 OVERVIEW The AGI calculation depends on the tax return form you use; some forms allow you to take more adjustments to income, than others.  When ...
    Posted Jan 15, 2018, 6:22 AM by Nhat Vuong Tran
  • What Is a Schedule A IRS form? Updated for Tax Year 2017 OVERVIEW The Internal Revenue Service offers every taxpayer the option to itemize their deductions or to claim the standard deduction. The standard deduction amount varies ...
    Posted Jan 15, 2018, 7:47 AM by Nhat Vuong Tran
  • Can I Claim Medical Expenses on My Taxes? Updated for Tax Year 2017 OVERVIEW Medical expenses can take a bite out of your budget, especially if you have unforeseen emergencies that are not fully covered by your insurance ...
    Posted Jan 15, 2018, 6:31 AM by Nhat Vuong Tran
  • What Are Itemized Tax Deductions? Updated for Tax Year 2017 OVERVIEW When it comes to reducing your taxable income, itemizing your deductions can really maximize your tax savings.  When searching for ways to reduce your ...
    Posted Jan 15, 2018, 7:49 AM by Nhat Vuong Tran
  • 5 Facts About the Earned Income Tax Credit Updated for Tax Year 2017 OVERVIEW Many qualified taxpayers overlook the Earned Income Tax Credit (EITC), potentially missing out on thousands of dollars at tax time. Tax credits mystify many ...
    Posted Jan 15, 2018, 6:16 AM by Nhat Vuong Tran
  • What Is the Difference Between AGI and MAGI on Your Taxes? Updated for Tax Year 2017 OVERVIEW Your adjusted gross income, or AGI, is an important line item on your taxes, as it affects your eligibility for certain other tax credits ...
    Posted Jan 15, 2018, 6:39 PM by Nhat Vuong Tran
  • What are the IRS 1040 & 1040A Forms? What Is an IRS 1040 Form? Updated for Tax Year 2017 OVERVIEW One of the official documents that U.S. taxpayers can use to file their annual income tax return ...
    Posted Jan 15, 2018, 6:09 AM by Nhat Vuong Tran
  • Steps to Claiming an Elderly Parent as a Dependent Updated for Tax Year 2017 OVERVIEW If you cared for an elderly parent, your parent may qualify as your dependent, resulting in additional tax benefits for you.The first thing ...
    Posted Jan 15, 2018, 6:42 PM by Nhat Vuong Tran
  • Rules for Claiming a Dependent on Your Tax Return Updated for Tax Year 2017 OVERVIEW Rules on dependents can help you save thousands of dollars on your taxes. Yet many of us are not aware of who in our ...
    Posted Jan 15, 2018, 6:28 AM by Nhat Vuong Tran
  • 7 Requirements for the Child Tax Credit Updated for Tax Year 2017 OVERVIEW The Child Tax Credit can reduce your tax bill by as much as $1,000 per child, if you meet all seven requirements: 1 ...
    Posted Jan 15, 2018, 6:13 AM by Nhat Vuong Tran
  • Alternative Minimum Tax: Common Questions Updated for Tax Year 2017 OVERVIEW The Alternative Minimum Tax (AMT) was designed to keep wealthy taxpayers from using loopholes to avoid paying taxes. But because it was not automatically ...
    Posted Jan 15, 2018, 5:34 AM by Nhat Vuong Tran
  • What's the IRS penalty if I miss the April filing deadline? The IRS applies late penalties and interest on a case-by-case basis and will send a separate bill if penalties apply. Because the IRS has the last word on ...
    Posted Jan 15, 2018, 6:44 PM by Nhat Vuong Tran
  • What is IRS Form 1040-ES: Estimated Tax for Individuals? Updated for Tax Year 2017 OVERVIEW The IRS provides Form 1040-ES for you to calculate and pay estimated taxes for the current year. While the 1040 relates to the ...
    Posted Jan 15, 2018, 6:50 PM by Nhat Vuong Tran
  • Alternative Minimum Tax: Common Questions Updated for Tax Year 2017 OVERVIEW The Alternative Minimum Tax (AMT) was designed to keep wealthy taxpayers from using loopholes to avoid paying taxes. But because it was not automatically ...
    Posted Jan 15, 2018, 5:57 AM by Nhat Vuong Tran
  • 2017 Tax Reform Legislation: What You Should Know Updated for Tax Year 2017 OVERVIEW Congress has passed the largest piece of tax reform legislation in more than three decades. The bill will affect the taxes of most taxpayers ...
    Posted Jan 15, 2018, 5:49 AM by Nhat Vuong Tran
  • Tax Reform Changes That Impact Your 2017 Taxes Updated for Tax Year 2017 OVERVIEW With all of the buzz about Tax Reform many taxpayers are questioning how this will affect their 2017 tax return. Most of the provisions ...
    Posted Jan 15, 2018, 5:30 AM by Nhat Vuong Tran
  • Important Tax Deadlines and Dates Updated for Tax Year 2017 OVERVIEW Knowing when and what you have to file can save you a lot of headaches at tax time. To avoid paying penalties, mark your ...
    Posted Jan 15, 2018, 5:27 AM by Nhat Vuong Tran
  • 8 Tax Terms You Should Know Updated for Tax Year 2017 OVERVIEW With the proper use of tax deductions and exemptions, you can be sure that you're only paying the amount of tax that you ...
    Posted Jan 15, 2018, 6:36 PM by Nhat Vuong Tran
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