Tax Preparation

More in Tax Preparation

Can I File Taxes on Self Earned Income Without a 1099?

When you perform work for someone else on a contractual basis, the person you worked for must issue and provide you with a Form 1099 for any amount over $600 as of Sept. 1, 2012. However, if you don’t receive a 1099, you still have to file your tax return. Your own record ...

Married Filing Jointly Vs. Separated

The Internal Revenue Service recognizes five income tax filing statuses. Each filing status is determined, at least in part, by your marital status. You might qualify for more than one filing status. For example, if your are married, you have the option of filing your federal ...

If I Didn't File My Taxes Will I Get My Child Tax Benefits?

The IRS allows a wide variety of deductions, exemptions and credits for dependent children. The rules are designed to defray the cost of basic living expenses, education and medical treatment. However, there are conditions attached to these tax benefits, with one of the most ...

How Far Back Can You Amend Tax Returns?

If you have discovered a mistake in a tax return that has already been filed, you can file an amended return, also known as Form 1040X. The Internal Revenue Service allows you to amend a return if your filing status is incorrect, your income is wrong, or you have incorrectly ...

IRS Requirements for Receipts

Claiming deductions for things like charitable donations, business expenses, childcare or tuition payments can lower your tax bill and potentially result in a larger refund. If you plan to claim these or other deductions, you'll need to be able to verify your expenses if the ...

How to Report Accrued Interest on a Tax Return

When you own investments that pay interest, the company that holds your financial accounts reports earnings of $10 or more to you and to the IRS on Form 1099-INT. To the IRS, accrued interest is the earnings a bond pays to the seller, but which is reported to the buyer in boxes ...

Is It Better to File Jointly or Separate When Making Over $100K?

People making over $100k a year are in higher tax brackets, which means that they generally have to pay a higher percentage of their income in taxes. If you're married, you have the option of filing jointly or separately, and there's no answer that works for everyone. Instead, ...

Tax Treatment of Domain Name Costs

In the early days of the Internet, little precedent existed for how domain names were handled from an income tax standpoint. Central to the debate was whether they should be considered assets or expenses, but a 2003 U.S. Appeals Court ruling helped answer that question. Since ...

How to Report a Forex Profit in TurboTax

If you've made money trading foreign currencies, then the IRS wants to know about it. TurboTax and other tax-preparation software make it fairly easy to track and report your gains, and your trading platform should provide the backup documentation, if needed. Keep in mind the ...

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