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Dec 23, 2014What are the limits on deductions for charitable contributions?
It’s great to give but don’t expect all of it back from the IRS! If you plan on deducting a charitable contribution on your tax return, you’ll want to keep in mind that the IRS places limitations on how much you can actually write off. Generally, you’ll be able to deduct charitable contributions up to […]
adminDec 18, 2014Can I Deduct Donations Made to Any Organization? | IRS Qualified Charities
Contributions to Tax-Exempt Organizations aka “IRS Qualified Charities” are Tax Deductible If you itemize your deductions (rather than taking the standard deduction), your donations are tax deductible. Don’t get too excited though, you’ll only be able to deduct contributions made to qualified charities and organizations. Not sure what organization to donate to this year? We’re […]
adminDec 15, 2014How To Deduct Donations as Charitable Contributions
Did you make a donation this year? Here are a few tips for claiming it on your tax return. What’s better than getting a larger tax refund from your tax return? Giving to a good cause. In fact, WebMD.com’s article “The Science of Good Deeds”, explains that giving to others not only gives something called a […]
adminDec 9, 2014What You Need to Know about Working Remotely Taxes
Working remotely taxes can be confusing, especially if you live in one state and work for a company located in another state. For most, working remotely from home is much more convenient than commuting to a job. There’s no train rides, sitting in traffic or obnoxious co-workers to sit next to. However, trading in your […]
adminDec 2, 2014What Is The 2014 Standard Mileage Rate?
The price of gas has gone down in 2014, and so has the Standard Mileage Rate! Tax Season 2015 is here. Before filing your 2014 taxes, you’ll want to organize any receipts related to the costs of your vehicle if used for business, medical, charity or moving reasons. It pays to stay organized; the more […]
adminNov 20, 2014How To File 2013 Taxes Late If You Missed October 15 Deadline
You can File 2013 Taxes Late with PriorTax. If you planned on filing your 2013 taxes by the October 15, 2014 deadline but never got around to it, don’t panic. You can no longer e-file a 2013 tax return, but you’ll still be able to file 2013 taxes late with PriorTax. Thanks to the 2013 tax software, you […]
adminNov 12, 2014How To File Taxes as an Actor or Performer
Update: This applies to 2018 tax returns and further tax returns with years 2018 – 2025. Due to the Tax Cuts and Jobs Act, performers who receive W-2 statements, or who are recognized as employees can no longer deduct out-of-pocket job expenses. You will only be able to deduct expenses if you are filing a […]
adminNov 11, 20145 Things You’ll Need to Report On a Self-Employee or Business Tax Return
Before Report Self-Employment or Business Income, Know what You’ll Need If you need to report self-employment income or business income on a tax return, it’s best to organize the papers you’ll need before getting started. Filing a Schedule C may seem like a daunting task. However, you can avoid complications by keeping your records organized […]
adminOct 23, 2014How To File 2013 Taxes in 2015
Don’t let the IRS empty your pockets with penalty fees: file your late 2013 taxes now! Avoiding doing your taxes is tempting, we understand. However, late penalties and fees increase as time passes, so it’s best to get caught up, even if that means you have to file your 2013 taxes in 2015. The good news is […]
adminOct 23, 2014Why Did I Receive Form 1099-MISC?
You do not necessarily have to “have a business” to receive a 1099-MISC- you’re still considered “self-employed” by the IRS If you opened up your mail to find a Form 1099-MISC rather than a W-2 form, you may think someone sent you the wrong paperwork. Don’t throw it away. Don’t shred it. Don’t use it […]
