May 06
Many taxpayers have more taxes withheld from their pay than necessary. You should try to have your income tax withholding match your actual tax liability, especially if you normally get a large refund and you would like more money in your paycheck. If not enough tax is withheld, you will owe tax at the end …
Permanent link to this article: http://www.easttexasreview.com/escape-tax-surprises/
Jul 21
According to Clay Sanford, IRS spokesman one should try to have their income tax withholding match actual tax liability. If not enough tax is withheld, you will owe tax at the end of the year and may have to pay interest and a penalty. If too much tax is withheld, you will lose the use …
Permanent link to this article: http://www.easttexasreview.com/personal-financial-change-adjust-withholdings/
May 21
IRS system helps with college application process By Clay Sanford/Special to ETR College-bound students and their parents typically want to make every dollar and every minute of the college experience count including money spent on tuition and time spent on the college financial aid application process. “The Internal Revenue Service is helping minimize the …
Permanent link to this article: http://www.easttexasreview.com/applying-for-finacial-aid/
May 15
Now that the tax filing season has come and gone, you may be wondering how long to keep records and what records to keep. Keeping necessary records after you file your taxes is a good idea, as they will help you with documentation and substantiation if the IRS selects your return for an audit. “Normally, …
Permanent link to this article: http://www.easttexasreview.com/paperwork-after-tax-filing-season/
Apr 10
If you haven’t filed your taxes yet, you still have options. First, you can electronically prepare and file your tax return. In most cases, you can do so for free by going to IRS.gov and clicking on the blue and green Free File icon. “If you owe taxes, you can e-file now and pay later …
Permanent link to this article: http://www.easttexasreview.com/fast-tips-for-last-minute-filers/
Nov 16
The spirit of giving seems to grow during the holiday season, and many donations are made to charitable causes at this special time of year. The IRS reminded taxpayers today to keep some important points in mind when making donations with the expectation of deducting them on a federal tax return. You can deduct donations …
Permanent link to this article: http://www.easttexasreview.com/tax-tips-for-holiday-charitable-giving-2/
Aug 16
By Jason Alderman Whether you’re a recent graduate going to college for the first time or a returning student, it will soon be time to get to campus – and payment deadlines for tuition and other fees are not far behind. “Be sure not to overlook any tax credits or deductions for education,” said Clay …
Permanent link to this article: http://www.easttexasreview.com/4704/
Jul 27
If you have too little federal tax withheld from your pay, you could end up owing a lot of money when you file your taxes. If you withhold too much, you will get a large refund next year, but that means you gave up the use of your money for several months during the year. …
Permanent link to this article: http://www.easttexasreview.com/avoid-tax-surprise/