Tag Archive: tax return

Nov 23 2013

Understanding the ‘Kiddie Tax’

For something whose nickname sounds so innocent, the “kiddie tax” certainly can wreak havoc on unprepared taxpayers’ yearly returns. Congress first introduced the kiddie tax as part of the Tax Reform Act of 1986 to discourage wealthy parents from sheltering their investment income in accounts under their children’s names, thereby avoiding paying taxes on the …

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Permanent link to this article: http://www.easttexasreview.com/understanding-the-kiddie-tax-2/

Jul 24 2013

Lone Star State: Tax breaks for job hunters

Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job change. If you are looking for a new job that is in the same line of work, you may be able to deduct some of your job hunting expenses on your federal income tax return. …

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Permanent link to this article: http://www.easttexasreview.com/lone-star-state-tax-breaks-for-job-hunters/

May 06 2013

Escape tax surprises

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 …

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Permanent link to this article: http://www.easttexasreview.com/escape-tax-surprises/

Mar 04 2013

Should you hire a tax preparer?

The U.S. tax code grows more complicated every year and currently spans thousands of pages – even government experts can’t agree exactly how long it is. So it’s not surprising that millions of Americans hire professional tax preparers to complete their returns. Relinquishing the onerous task of calculating your taxes to a professional may save …

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Permanent link to this article: http://www.easttexasreview.com/should-you-hire-a-tax-preparer/

Jul 21 2012

Personal financial change: adjust withholdings

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 …

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Permanent link to this article: http://www.easttexasreview.com/personal-financial-change-adjust-withholdings/