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If you're a small business owner with fewer than 25 full-time equivalent employees you may be eligible for the small business health care credit. What is the Small Business Health Care Credit? The small business health care tax credit, part of the Patient Protection...

The Affordable Care Act contains two provisions that may affect your tax return this year: the individual shared responsibility provision and the premium tax credit. Here's what you should know: Information Forms: 1095-A, 1095-B, and 1095-C This year marks the first...

If you've been procrastinating when it comes to preparing and filing your tax return this year you might be considering filing an extension. While obtaining a 6-month extension to file is relatively easy--and there are legitimate reasons for doing so--there are also...

Confused about which credits and deductions you can claim on your 2016 tax return? You're not alone. Here are six tax breaks that you won't want to overlook. 1. State Sales and Income Taxes Thanks to the PATH ACT of 2015, taxpayers filing their 2016 returns can deduct...

Are you one of the millions of Americans who hasn't filed (or even started) your taxes yet? With the April 18 tax filing deadline quickly approaching, here is some last minute tax advice for you. 1. Stop Procrastinating. Resist the temptation to put off your taxes...

Even if you've never paid Alternative Minimum Tax (AMT), before, you should not ignore this tax. Why? Because your tax situation might have changed and this might be the year that you need to pay AMT. AMT attempts to ensure that taxpayers who claim certain tax...

In late January, the IRS released an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that helps tax-exempt organizations avoid common mistakes when filing their annual return. One out of three paper filers has an error on their form,...

Most people can claim an exemption on their tax return. It can lower your taxable income, which in most cases, that reduces the amount of tax you owe for the year. Here are eight tax facts about exemptions to help you file your tax return. 1. Exemptions Cut Income....

If you haven't contributed funds to an Individual Retirement Arrangement (IRA) for tax year 2016, or if you've put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until the April 18th due date, not...

It's important to use the right filing status when you file your tax return because the filing status you choose can affect the amount of tax you owe for the year. It may even determine if you must file a tax return. Keep in mind that your marital status on December...