One of the most underrated ways to save money is on your taxes paid every year. And most importantly there are added tax benefits and tax breaks that are offered to taxpayers over 50. This article will outline the best tax breaks available to senior taxpayers.
This blog post shares several ways to
make a tax preparer’s job easier. Choosing a tax preparer, maintain your professionality, and be honest on your tax return. Also, be prepared and thorough when sitting with your tax preparer.
to live a good life and live it comfortably you’re going to need a lot more than just those traits to attain serenity. You’re gonna need to have the talent to match to really get going in your profession of choice. So when it comes to preparing taxes you should test your strengths relative to the business before you start on the path of becoming a tax preparer. That said,if you fit the mold and are dedicated you should be able to make great money doing taxes in no time. This article will give you a game plan as to how to become a tax preparer and make good money right away.
Tax identity theft is truly an insidious and pervasive problem in our modern day environment. In 2013 the IRS was able to stultify up to around $25 Billion worth of fraudulently filed tax returns. The other side of that coin is that same year the government dolled out and exhorbitant $5.2 Billion to non deserving recipients. With the advent of electronic filing coupled with IRS policy of passing out tax refunds as fast as possible, there are certainly not as many avenues to vet the tax return before the money is sent. So, all though this is extremely convenient for the law abiding taxpayer, it backfires in that it also makes it much easier for tax identity thefts to get a refund using somebody else’s Social Security Number. This article will take a look at the growing tax identity theft epidemic and discuss preventative measures that can be taken to halt fraudulent tax returns being filed.
The Earned Income Tax Credit is one of the government’s most potent tools that fight poverty and encourage people to work as well. Essentially the program dolls out cash to low-income employees to supplement their wages and boos their quality of living. It is issued at the end of the year in the form of a tax credit. The credit can add up to as much as $6,000 a year to families with three plus children. Another peripheral effect of the implementation of the EIC is that it offsets rising Social Security taxes and the erosion of minimum wage from inflation in previous years. The EIC is a vital adjuvant to the overall tax benefits program. Let’s take a look at the EIC and it’s pros and cons.