Tag: taxes

Charitable Deductions: How To Claim Them Correctly [INFOGRAPHIC]

In this season of giving, you may have made some charitable gifts to organizations close to your heart. Or, as you make room in the house to accommodate all those news gifts and gadgets, you may have donated your old belongings to a local nonprofit. Both activities might be tax deductible, but you need to […]

Year-End Financial Moves That Also Benefit Your Tax Return

It’s the end of the year, but it’s not too late to make some important financial moves. On the plus side, these changes have some related tax benefits. Leer en español. First, use H&R Block’s tax calculator to estimate what you may owe at tax time – or how much could be coming back to you in […]

Extenders Have Passed – What it Means

President Obama signed H.R. 5771, The Tax Increase Prevention Act (TIPA) – known as the “Extenders” – into law last week. This package of tax benefits had expired December 31, 2013. The good news: This one-year extension (yes, it expires on December 31, 2014) means that taxpayers can claim these benefits on their 2014 tax […]

4 Things You Don’t Know About Taxes

Ed note: OK. If you are a super-smart, savvy taxpayer, you might know about a couple of these. But I bet we have a few new pieces of wisdom for you here. Leer en español. When it comes to taxes, surprises are often a bad thing. Nonetheless, there are a few welcome surprises that can come […]

The Truth Behind These Common Tax Myths

Ed note: There are a few persistent tax myths that pop up year after year. Here’s the unfortunate truth about some of these misconceptions. Leer en español. Myth #1: Being Unemployed Means Not Paying Taxes Any unemployment benefits you receive from local, state or federal government entities are considered to be income and must be reported […]

Up to 1 in 6 Taxpayers May Miss Out This Year With Expiring Tax Benefits

Update: Good news! Congress has passed a one-year retroactive extension to these tax provisions that expired at the end of 2013 and the President has signed it. This marks the sixth time since 2005 that Congress has extended these or similar tax breaks. Get all the details on what tax benefits have been extended. Original post: […]

What Does It Really Mean to be Audited?

Ed note: We’re all afraid of something. Heights. Snakes. Whatever. But around tax time, you’ll find a lot of people very scared about the possibility of being audited. In that case, here’s some reassuring news for you. Leer en español. Most people think of the word “audit” as one of the worst five letters words […]

New Tax Form Coming: The 1095-A [INFOGRAPHIC]

It’s been said before, but the Affordable Care Act is the largest change to the tax code in 20 years. Part of that change means that there are entirely new tax forms you may need to know about. If you received health insurance coverage through a Marketplace, you’ll want to know about the 1095-A. Our […]

The First Time International Taxpayer’s Guide to Filing a U.S. Tax Return

Ed note: If you are new to the U.S., the process of filing a tax return may seem daunting at best and impossible at worst. We help sort through what it means to be a nonresident filing for the first time – what status to use and what documentation you’ll need to work on ahead […]

5 Small Business Tax Myths

Ed note: There are a few pervasive myths around taxes if you work for yourself or have a side business. Namely, supposed deductions that can’t actually be deducted. Don’t get caught making one of these mistakes next year! Leer en español. 1. Personal Care and Clothing Expenses as Deductions No matter how polished and well […]