Tag: taxes

Did You Know: Wacky Tax Deductions

There are a lot of urban legends about things the IRS allows you to deduct. For instance, you cannot pay an arsonist to burn down your business and deduct the payment to them as a “consulting fee.” (Someone actually tried this.) Leer en español. You cannot deduct the cost of an air-conditioned hotel room if […]

Stop Putting Off That Tax Return – How to File ASAP

Few things in life are as dependable as tax day. The April 15 deadline was put into place in 1955 and remains the same today. Sure, there’s been some times where April 15 falls on a weekend or holiday so the actual deadline shifts. But there is a reason the saying “nothing can be certain […]

What are Marketplace Hardship Exemptions, and How to Qualify?

Ed note: If you didn’t have health insurance in 2014, you may be avoiding your tax return in fear of having to pay a penalty. There’s good news, though. You may qualify for an exemption – which means you don’t have to pay the fee. Here’s a closer look at some exemptions that are a […]

How We Spend Tax Refunds

At H&R Block, we love getting our clients their maximum refund. What’s even more exciting is when they use those refunds in awesome ways. How do we know? We ask them, of course! Every client who completes an H&R Block survey is asked what they are doing with their refund. Some of the most common […]

When To File Taxes if You Live Abroad

For those of us living in the U.S. the deadline for filing a tax return is pretty clear. It’s got to be in by April 15 – whether you file the return or file an extension. For U.S. citizens who live or work outside of the country, it can be more complicated. So we created […]

In Love and Tricky Taxes: Filing a Return with a Non-Citizen Spouse [VIDEO]

When two U.S. citizens get married, their tax situation changes. When a U.S. citizen marries a non-citizen, their tax situation gets incredibly complex. Leer en español. If you married a non-citizen, you have to start by determining whether you have a valid marriage for tax purposes. Then, if you have a valid marriage, you must […]

Madness of Gambling in the United States

Ed note: Have you caught basketball fever? It’s around this time of year that gambling – and the tax issues related to it – gets a lot of conversation. While Warren Buffet took his million-dollar prize off the table, you may still be pocketing a nice wad of cash from the office pool or from […]

What is Form 1099-K, and Why Did I Get One?

Ed note: We’ve talked a lot about the brand new 1095-A form that many people are getting this year. However, we’ve also gotten a lot of questions about the 1099-K. This isn’t a new form, but it is one that is showing up in more and more mailboxes as the way we do business changes. […]

When Do Non-Citizens Pay U.S. Taxes? [INFOGRAPHIC]

If someone isn’t a U.S. citizen, they may be classified in three different ways under immigration law: An immigrant A nonimmigrant An undocumented immigrant But when it comes to tax time, the IRS is only concerned about whether they are a resident alien or nonresident alien. Resident aliens are taxed in the same manner as […]

What IRA is Right For You?

Ed note: An Individual Retirement Account is one option to save money over time. However, you might not know that there are different kinds of IRAs, with different benefits. Let’s look at which one might be the best for you. IRAs are tax-advantaged retirement savings accounts in which people who have earned income in a […]