Your last 2015 quarterly estimated tax payment is due by January 15, 2016. Important: If you plan to take this payment as a deduction on your 2015 federal income tax return, you must make the payment by December 31, 2015.
Category: Tax Deductions
2016 Standard Mileage Rates
The IRS has released the 2016 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes. Beginning on Jan. 1, 2016, the standard mileage rates for
Global Giving – Bridge The Technology Gap For 1000 Students
Summary This project will bridge the technology gap that exists between schools and disadvantaged students. By building a cloud-based computer lab for high schools that lack the funding and staff, students will gain hands on experience with real world IT
Can I Claim My Expenses as Miscellaneous Itemized Deductions on Schedule A (Form 1040)?
Use the IRS Interactive Tax Assistant Tool to see if you can claim miscellaneous itemized deductions on your tax return. You may be able to deduct certain expenses related to producing or collecting taxable income. This topic addresses many of these
The Truth About a Big Tax Refund
You’ve filed taxes and are getting a big tax refund. Everyone gets excited about that BIG refund. Why is this? Is this really good? Well, not really unless you are getting refundable tax credits (EIC, AOTC, Additional Child Tax Credit, etc) to get
Tax Tips – Employee Business Expenses
Five Tips You Should Know about Employee Business Expenses If you paid for work-related expenses out of your own pocket, you may be able to deduct those costs. In most cases, you claim allowable expenses on Schedule A, Itemized Deductions. Here
Home Office Deduction
Top Six Tips about the Home Office Deduction If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify you can claim the deduction whether you rent
Still Time to Contribute to IRA for 2014
April 15th Deadline The Internal Revenue Service reminded taxpayers that they still have time to contribute to an IRA for 2014 and, in many cases, qualify for a deduction or even a tax credit. To count for 2014, contributions must be made
Tax Increase Prevention Act of 2014
Congress has passed the Tax Increase Prevention Act of 2014 which includes more than 50 tax breaks (tax extenders) that were set to expire December 31, 2013 but have been extended temporarily and retroactively. So what exactly are tax extenders, anyway? Tax
2015 Standard Mileage Rates
The optional standard mileage rates for employees, self-employed individuals, or other taxpayers are used in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes. Beginning on Jan. 1, 2015, the standard mileage rates