Some employees are sent a document called a 1095 C, which contains detail and information surrounding your healthcare coverage. Technically, you don’t need to include this form with your tax return, and it doesn’t need to be sent to the IRS. Although, you can use the information that comes with the form to help you…
Category: Taxes
Do Beneficiaries Pay Taxes On Bank Accounts?
Although it’s never pleasant to lose your nearest and dearest, if they have been kind enough to appoint you as the beneficiary of one or more of their bank accounts in their will, at least that relieves some financial pressure in this trying time. However, now that you’re the owner of said bank accounts, you…
What Is A W9 Tax Form?
If you’re trying to sort out your taxes it can be quite easy to lose your head in it all. There’s so much information to try and process it can feel a little like it’s all going in one ear and straight out the other. Learning and understanding the different forms and what information they…
Can I Pay My Taxes In Installments?
When you get your final tax bill for the year, you may find that you still owe money. If you can’t afford to pay this bill in one go then you can put in an application to pay in installments. These applications are generally approved by the IRS if you owe less than $50,000 for…
Are Appliances Tax Deductible?
There are many reasons why you might be wondering if your new appliance is tax-deductible. It might be that you’ve replaced an old and inefficient appliance with a renewable energy update, and you wonder if you qualify for tax credits. Or you might be a landlord or business owner, curious if necessary purchases are considered…
Are Wedding Gifts Taxable?
Weddings! They’re a day many of us dream about from a young age and one of the great benefits of the big day, other than declaring your love to your soul mate in front of all your friends and family, are the gifts. If you think you’ve ever spent a long time unwrapping gifts before…
Can You Claim Pets On Taxes?
Most pet owners consider their animal companions to be family members and an integral part of their lives, but claiming taxes for them is certainly not as doable as it is for a child or other person in your household. That being said, there are specific situations wherein it is possible to claim taxes on…
Can A 17 Year Old File Taxes?
There is a common misconception that children under the age of 18 don’t have to pay tax in any form. Sadly for them, this is not the case. If you are a 17 year old and earning money, you should file a tax return, even if you are earning less than the income tax threshold….
Are Travel Expenses Tax Deductible?
Traveling for business is a common aspect of many work environments, and while it can be enjoyable, it often becomes costly. Even a short trip requires transport, accommodation, and navigating an area you might be unfamiliar with. But if the travel is a work necessity, you might be able to benefit from some tax deductions….
How To Tell If You Owe Taxes
Taxes: let’s face it, they’re a headache. Sometimes, life gets in the way, and it can be easy to lose track of what you owe. Not sure if you owe back taxes to the IRS? Keep reading to find out how to determine what you owe and how to pay it. How Will I Know…