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Each State is in budget deficit. This causes increase in routine audits to fill the discrepancy with tax revenue. Tremendous hiring of Auditors was also observed across States. Idaho hired 48 auditors in 2012 while California plans to hire 100 auditors in the next three years.

It is tough being a sole proprietor and finding the time to run your business effectively. If you are preparing your tax return yourself, understanding the instructions for using Schedule C can make life even tougher. Frank Ellis, a Traverse City tax expert, feels your pain and offers the following advice.

“Financial advisors will tell you to save as much as you can.” They say every little bit helps. The same applies to tax refunds. Every little bit added for a larger refund is a good thing. In 2014 TurboTax and Amazon Gift Cards have found a way for people to benefit from the TurboTax Refund Bonus Program.

Even the professional contractors who built your house or office building get confused about the home improvement expenses the IRS allows as deductible, so it’s no surprise Joe Taxpayer is often left scratching his head in bewilderment.

Education tax credits can reduce taxes owed dollar for dollar. Both the American Opportunity Credit and the Lifetime Learning Credit may be claimed for education expenses including tuition, fees, textbooks, supplies, and equipment required for classes. Expenses such as student insurance, transportation to the educational institution, and personal expenses cannot be claimed for the purposes of either credit.

Frank Ellis, Traverse City’s expert tax guru, is out with another important tool for use during the 2014 tax filing season. This time Ellis is focusing on the employer and he as revealed an effective tax withholding calculator. According to Ellis, “It’s crucial that employers withhold the correct amount of taxes from their employee’s earnings and this is the best withholding calculator I have come across, so I had to share it"

Prestige Wealth Accounting Group, a premier accounting firm, is pleased to announce the continuation of services for tax preparation in NJ in 2014. The New Jersey-based accounting firm has assisted many individuals with personal tax preparation services, minimizing their tax burdens and pushing them into the best financial shape for a successful future. If there are opportunities for personal financial growth, the New Jersey tax preparation accountants will be the first to inform clients so they can react accordingly.

If someone has paid for the professional care of a disabled adult dependent, or if he/she has paid for childcare for a qualifying dependent child who was 12 years of age or younger, he/she is probably eligible to receive a significant tax credit – the Child and Dependent Care Credit. This tax credit can earn someone – dollar for dollar – up to 35 percent of the expense of the care he/she paid for, during the tax year.

GFH Funding offers high quality property tax loans to help companies and homeowners in the state of Texas. Most people don’t understand property tax loans, making it easy for banks to do whatever they want with people who are in trouble with their taxes. Unfortunately, property tax loans are a much better way to pay back your taxes.

ez1099 software is enhanced to support multiple accounts feature and is available for free test drive at halfpricesoft.com. The step by step guide is also available for businesses, financial institutes and tax professionals. 1099 software developers hope this new editon will increase productivity by simplifying the tasks of filling out, printing and eFile 1099s, 1098s and many other forms that are required by the IRS.

Easy Income Tax Filing Online, a useful website when it comes to details and services related to Income Tax, is providing a chance for tax payers to claim the earned income credit for 2014 tax returns.

Claiming dependents – whether children or adult relatives – on someone’s tax return can provide significant tax benefits to him/her. Each qualifying dependent someone claims is an additional personal exemption. Qualifying dependents of the correct age and relationship to someone may also make him/her eligible for a number of different tax credits, which can save him/her money dollar-for-dollar. These credits include:

Tax forms can be confusing to those not used to filling these government forms out. Although for the most part, adding up the lines can be easy, understanding the number of allowances to enter or knowing whether or not to enter an allowance can be difficult and puzzling. Luckily, this tax season, taxpayers can turn to Easy Income Tax Filing Online to help them figure out how to fill out their W-4 Form for 2014.

Tax rates and the standard deduction amount that someone can take, are both based primarily upon the tax filing status that he/she chooses. Someone’s filing status depends upon his/her marital status on the last day of the tax year, as well as whether or not he/she has a qualifying dependent (for Head of Household status).

As many know, an offshore company is one that is registered and operates in a foreign country; however, many are not aware of what makes an offshore company different from more common companies and of the many benefits that come from setting up an offshore company.

If you have just filed your 2014 tax return and are already checking every day to see if it has arrived, look at your calendar. According to Traverse City, Michigan, author and tax expert Frank Ellis, your refund will come no sooner than 21 days after filing.

USA like any other country has rich and poor people as its citizens. There are people who are not financially stable and need government’s support to survive up to the standards of living.

Tax season is here and the Raleigh Accountants at the Executive Accounting Services have trained and readied their staff to help local North Carolina citizens file their tax returns to the IRS. These Tax Accountants are now scheduling appointments through April to aid with this tax return season.

IRS encourages all taxpayers to use a handy tool that can make their tax refund calculation for the year 2014 easier and faster with the use of TurboTax tax refund calculator. This handy tool by Turbo Tax helps taxpayers determine if they are going to have a tax refund or paying money out. The tool can be used by taxpayers for free.

The IRS won't start processing returns until at least Jan. 28 and possibly as late as Feb. 4 because it needs time to program and test tax-processing systems. The delay will affect when taxpayers can file their taxes.

Easy Income tax Filing Online helps all taxpayers import W2 tax form online 2013 for filing tax this year, 2014. It encourages taxpayers to prefer e-file of tax returns and refund using tax software Turbo Tax.

According to reports in the news, millions of people could face the heartache of experiencing delays on their tax refunds. It is expected the delays could be up to two weeks, which will affect the IRS tax refund cycle chart.

Nick Nemeth, founder of the Law Office of Nick Nemeth PLLC, a Dallas tax law firm, recently published an article on his website offering insight into the IRS audit process. The article, titled “Avoid an IRS Dispute Before it Begins: Seven Tips to Avoid IRS Trouble,” offers valuable information to help taxpayers avoid trouble with the IRS.

Due to major changes in many state laws in the past year, same-sex marriage is now legal in 17 states – and in August of last year, the IRS made the decision to treat same sex couples legally married in any state as married for the purpose of filing federal tax returns. This means that gay and lesbian couples married in these states can legally file their income tax returns under “Married, Filing Jointly” or “Married, Filing Separately.” Their married status, furthermore, is retained even if the couple has moved to another state that does not recognize same-sex unions. It is even possible for couple to file amended joint tax returns for the years between 2010 and 2012, also.

The Federal Government has extended the child tax credit for 2014. This news was recently reported on the Easy Income Tax Filing Online website, where filers can find a complete description and analysis of the extended Child Tax Credit for 2014.