by Pierre Philantrope | Feb 23, 2022 | Tax Tip
Tax returns could be very complicated for taxpayers. Regardless of the level of complication, all taxpayers could tremendously benefit by reviewing their tax return, knowing their tax return, and by asking questions. Hiring a tax preparer to prepare a tax return does...
by Pierre Philantrope | Feb 16, 2022 | Tax Tip
There are two (2) types of education related tax credit that taxpayers may claim for qualified tuition and related expenses paid or incurred during the tax year: the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). The Protecting...
by Pierre Philantrope | Feb 9, 2022 | Tax Tip
Taxpayers tax filing status is extremely important. They are 1) Single, 2) Married Filing Jointly, 3) Married Filing Separately, 4) Head of Household, and 5) Qualifying Widow/er with dependent child. Your filing status determines your filing requirements, your tax...
by Pierre Philantrope | Feb 1, 2022 | Tax Tip
The earned income tax credit (EITC) is not for every taxpayer. As your income increases, the credit is reduced and it is phased out at an income threshold. Be more alert by looking for any schedule A or schedule C on your tax return if you are not self employed and...
by Pierre Philantrope | Jan 26, 2022 | Tax Tip
Taxpayers could alleviate the challenges that will continue during this tax season because of the Covid-19 pandemic that tremendously affects tax processing at the Internal Revenue Service. This advice is shared by the IRS, the National Taxpayer Advocate office and...
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