Taxes are the bitter truth of our lives which are unavoidable in all sorts of circumstances. There are certain events in our lives which have an impact on the way the taxes are levied. Here are the few events listed:  Birth or Adoption of a Child The biggest life changing event in any one’s life [...]

As a Tax payer you must be aware of all the terms and tax benefits that you can get. May people are unaware of Additional Medicare Tax which was implemented recently in the year 2013.  It was implemented in the basis of Affordable care Act (ACA). According to ACA, If your income exceeds a certain [...]

  Newly Wed couples face so many changes in their lives. They start a new home, they adjust to the new routine, decide upon sharing bills and other payments, match their job timings, along with that another major change that they face is in their tax status.  There are some consequences related to Tax which [...]

    Most of the people believe that they will have to pay fewer taxes when they are retired. But in some states the situation gets the other way round. The tax payer has to pay more shares in taxes when he is retired. It depends on the amount of income that a retired person [...]

    If you owe the IRS it is better to start thinking of ways to pay them rather than waiting for the burden to increase. Here are some ways through which you can minimize the burden of owning taxes: Tip No. 1: Pay it off The foremost tip is to try your best and [...]

It is estimated that most of the tax payers use help of tax prepares to file their taxes. If you are one of the 60% people who do not prepare their tax returns themselves it is important that you collect all your documents and start finding the right tax preparer for yourself. Step No.1:  Choose [...]

  Tax payers find it difficult to fill the tax forms and prepare the tax returns. Here are few strategies that can make this process simpler: Find the right tax forms Tax payers usually fill the wrong forms sue to which the process becomes long and tiring for them. The most important step is to [...]

    Taxpayers spend $27.7 billion a year preparing their taxes. A greater portion of this spending goes to the million of accountants or Tax firms that are hired each tax season. even the head of IRS gets his taxes done by a professional.   According to the New York Times, 80% to 95% of [...]

Having a extra cash in hand is the biggest blessing. You are happy that you can use it for any unexpected need or you can fulfill any pending expense. There are many tax refund ideas on how to spend your money. Here are a few smart ways to spend your tax refund: You can shop [...]

  No. 1: Invest in an Experience The most interesting way of spending your Tax refund is to spend money on your hobby. Learn to sing, join a gym, and take aerobic classes or travel. Studies show that a person gets more contended by spending on an experience rather than a product. Splurging on experiences [...]