Tax Return Issues to Keep in Mind for 2015: How Life Changes Affect Your Taxes
Taxes and healthcare plans often go hand in hand, and for good reason. The big talker here, especially with a tax return, is this is about money. Moolah. Dough. Presidential flashcards. That’s just the fact of life. But when we’re talking about, well, life — quality of life, per se — it makes perfect sense. The key to understanding this isn’t just to be prepared for any issues in your life that might occur, but also to let the IRS know immediately as you prepare your tax return, especially after reading this press release about the issue.
Your Health Coverage Credit May Change
The reason why it might change is the fact that you will undoubtedly go through changes in your life as you get older — as you get diseases, as you go to the doctor to find out that you have a dislocated shoulder, for example — that will affect your health insurance. You know what that does? It’ll affect your premium tax credit, so be aware of that.
Some Life Changes That Could Affect Your Tax Credit
- A New Birth
- An Adoption
- A New Marriage
- An Unfortunate Divorce
- Moving to a New House
- Changing Jobs or Professions
- A Drastic Difference in Your Income
That Way, You Can Let Your Speedy Tax Return Reap You Benefits
Anymore Issues for 2015 Tax Returns? What About That Awesome FSA Rollover?
Professionals in the workplace see a great benefit, particularly when involving taxes, and if you’re strategic about it, you can come out on top. The benefit, of course, I’m talking about is the “FSA,” or flexible spending account typically used for out-of-pocket medical costs.
This Is What You Need to Do With an FSA Regarding Your Tax Return
“Roll Them Over” Into the Next Year
Speak With a Tax Professional About Your 2-Hour Tax Return
The Last 2015 Tax Return and Refund Issues You’ll Ever Consider: Old and New Tax Scams to Worry About
You might’ve read something about the IRS wanting to regulate certain tax preparers, and if that’s the case, you’re most likely wondering why. It can’t be that hard, this thing called ‘taxes.’ They’re just numbers! I dare you to try it. Try it. Try looking at all your figures, your annual income, and figure out this thing called ‘tax brackets,’ breaks and all that other lingo and jargon many certified public accountants would know (but not you).
Taxes Aren’t Fun, People. And Neither Are These Tax Scams.
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Be on Your Guard About These 2015 Tax Return Scams
One Tax Deduction You Never Considered for 2015: Teacher Expenses
It Would Then Make Sense That Tax Return Education Is a Must
You, the Teacher, Don’t Have to Juggle Taxes, But….
Yet Another Tax Deduction You Don’t Want to Miss in 2015: a Different Kind of Charitable Gift
I might be preaching to the choir on this one, but hear me out: you’re not reading fluff about pop topics and relevant issues to connect with the real story at hand (which obviously is the coming tax return for 2015 you’re going to file), and you’re definitely smart enough to not fall for such an SEO blog tactic as this, because I’m doing no such thing.
Trust me: I have something for you here about tax deductions and tax returns you don’t know about regarding charitable gifts. So listen up. This will get interesting (and turn to page 57 for our hymnal today this Sunday).
So You Think You Know Everything There Is to Know About Charitable Gifts?
Consider Cupcakes, for Example
That’s One Sweet Tax Deduction
One Final Tax Deduction in 2015 to Consider: Self-Employed Social Security?
Sadly, self-employment has had quite the bad rep, for obvious reasons. Tax reasons are included in that mix. Entrepreneurship, although celebrated widely, often doesn’t get the same perks as traditional W-2, and that’s a shame. Thanks to this year of 2015, when filing your tax return, you have a bit of consolation, particularly when dealing with social security, so bear this in mind, because it’s important: you don’t want to miss out on this tax deduction at all.
You Do, in Fact, Get a Benefit for Being Self-Employed on Your Taxes
Playing the Cards Right and Landing the Royal Flush
The Benefit of E-Filing for Your 2015 Tax Return and Why Fake Tax Preparers Don’t Use It
Seriously, it’s been on the news lately: there are ‘fake’ tax preparers out there. All they want is your money. They’ll scam you into getting your tax return filed, and instead of the deposit going into your account, it just goes away — never to be seen again. Where did it go? Who knows….
Here’s One Way You Can Determine Whether or Not a Tax Preparer Is Indeed Fake: E-Filing
- It’s Safe
- It’s Reliable
- It’s Efficient
- It’s Quick
Therefore, Pay Close Attention to Whether or Not Your Prospective Tax Preparer Actually Offers the Option to E-File
Exceptions to the Rule: Why You May Need to File Your Tax Return (Despite What People Tell You)
So you didn’t make a whole lot of money this past year of 2014. Does that mean you’re completely exempt from filing that 2015 tax return? Don’t be too sure…. Talk to a specialist from H.O.P.E. to Own about it, regarding your expedient 2-hour tax return to find out, but in the meantime, here’s a bit of wisdom for you to hold onto.
It May Not Matter What Your Income Is Regarding Your Tax Return
- Alternative Minimum Taxes
- Household Employment Taxes
- Retirement Plan Taxes
Again: Simply Talk to the Professionals Today
Divorced Couples Living Together: It Does Happen! (For Tax Reasons)
Think about the future here. Let go of the animosity (especially if you have kids!), because sometimes while the pain and tumult of divorce can be overwhelming, sometimes the money issues, especially with the house, can hurt even more! Something you honestly don’t want….
You Might Be Divorcing Your Spouse, But Try Not to Divorce Your Entire Life
It’s the Simplest Way to Get Taxes Figured Out About the House
The Flip Side of the Real Estate Property Coin: Can Beachfront Homes Be Bad?
ShareFollow Us!From a certain perspective, contrary to what we’ve said before about beachfront real estate here, it actually might not be such a good idea to get that home by the ocean, for plenty of reasons. Let’s play devil’s advocate here regarding real estate property by the wind and surf. After all, you have to […]Read More →