Tax Advice | TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers

Exemptions and Dependents: Top Ten Tax Facts

by TaxGenuity Tax Experts | Mar 27, 2016 | Tax Advice

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....

Choosing the Correct Filing Status

by TaxGenuity Tax Experts | Mar 23, 2016 | Tax Advice

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 Dec....

It’s Not Too Late to Make a 2015 IRA Contribution

by TaxGenuity Tax Experts | Mar 19, 2016 | Tax Advice

If you haven’t contributed funds to an Individual Retirement Arrangement (IRA) for tax year 2015, 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...

The Individual Shared Responsibility Provision

by TaxGenuity Tax Experts | Mar 15, 2016 | Tax Advice

The individual shared responsibility provision requires that you and each member of your family have qualifying health insurance, a health coverage exemption, or make a payment for any months without coverage or an exemption when you file. If you, your spouse and...

IRS Dirty Dozen Tax Scams for 2016

by TaxGenuity Tax Experts | Mar 11, 2016 | Tax Advice

Compiled annually by the IRS, the “Dirty Dozen” is a list of common scams taxpayers may encounter in the coming months. While many of these scams peak during the tax filing season, they may be encountered at any time during the year. Here is this...

Who Should File a 2015 Tax Return?

by TaxGenuity Tax Experts | Mar 7, 2016 | Tax Advice

Most people file a tax return because they have to, but even if you don’t, there are times when you should because you might be eligible for a tax refund and not know it. This year, there are a few new rules for taxpayers who must file. The six tax tips below...

Six Overlooked Tax Breaks for Individuals

by TaxGenuity Tax Experts | Mar 3, 2016 | Tax Advice

Confused about which credits and deductions you can claim on your 2015 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 last-minute tax extender legislation passed in December,...