First Timers

Filing Status

There are five basic filing statuses that you can choose to represent your situation at tax time. Which do you qualify for and which yields the highest tax savings? Find out!

Featured Articles

Choosing Standard or Itemized Deductions

There is a very simple way to determine if you should itemize your deductions ? if the combined total of your itemized deductions is greater than the standard deduction for your filing status, then do it?...more

Tax Tips for College Grads

Those newly graduated from college and starting out into the wide wide world can take comfort in the fact that the tax code can help them out in the areas of paying off student loans as well as relocating to their new jobs?...more

Which Form to File?

Can you get away with filing the 1040EZ, or do you need to 1040 long form? This article can help...more

Saving Taxes with the Home Office

To claim deduction for business you run out of your home you must meet some requirements set by the IRS.

Tax Forms that Arrive in the Mail

Depending upon your individual situation, you may or may not receive a lot of tax-related forms in the mail this year. People who work for more than one employer can expect to receive a W-2 from each business by the end of January. If you have investments.

Calculating Personal and Dependent Exemptions

Just one exemption can reduce your taxable income by $2,750. Read on to learn more about this credit's criteria.

Tax Savings for People Who Rent

A renter can take a home office deduction if he uses a part of the house or apartment exclusively for seeing clients or patients or doing his paperwork...more

Claiming Deductions on Student Loan Payments

The taxpayer, his or her spouse, or dependent can use this relatively new student loan deduction to save up to $2000 on interest paid on a student loan for up to 60 months after the loan was acquired.

Tax FAQs

FAQs for Filing Returns

If you want to know whether you are at risk for paying tax penalities for filing at extension, or whether you need to file a return for a deceased relative, Filing Returns FAQs can help.

Tax Form FAQs

Tax Form FAQs will help you understand which forms to use to file. It will also explain which forms will be sent to you by employers, brokerage houses, etc.

FAQs on Recordkeeping

This are contains FAQs on which records to keep for claim credit for childcare expenses, records to keep for claiming home improvement expenses and other key record-keeping issues.

Tax Tips

How to Fill Out Your W-4?

>Strive to be accurate. You may face a $500 penalty if you end up having too little tax withheld. If you don't file this form with your employer, the employer will have to withhold taxes at the highest rate.

Watch out for These Common Mistakes come Tax Season

>Don't miss these tips! These common mistakes could cost you now and for tax seasons to come!

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