Home Blogs Category: Tax and Life Changes

Category: Tax and Life Changes

Life changes and your taxes go hand in hand; believe it or not. That being said, it’s easy to forget about your tax return as a newlywed or when you’re welcoming a newborn into the family. Be aware that many of these changes also make you eligible for deductions and credits on your tax return. In some cases, you may need to update your W-4 form as well. PriorTax will keep you up to date on what to do when these life changes occur. You won’t be left in the dark.

Check back here for answers to your questions about how these changes affect your taxes.

 

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1099-K
admin
Nov 23, 2023

1099-K for TPSO Reporting Delay For Tax Year 2023

The IRS has announced a postponement of Form 1099-K reporting requirements for third-party platforms in 2023

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2024 New Tax Brackets
admin
Nov 16, 2023

2024 New Tax Brackets

The Internal Revenue Service has taken steps to ensure that the new 2024 tax brackets reflect the current consumer price index. This 5.4% upward adjustment

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tax planning
admin
Oct 26, 2023

Basic Tax Planning with 5 Tax Strategies & Tax Filing Approaches

Fundamental 5 Tax Strategies & Tax Filing Concepts to an effective Tax Planning and Filing, such as being aware of your taxable bracket, etc.

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tax on reselling
admin
Oct 12, 2023

Tax Implications for Reselling

Reselling may be a viable option for those considering an additional side gig. However, it is important to consider its potential impact on your tax situation.

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Hawaii Tax Relief
admin
Sep 7, 2023

Hawaii Announces Some Details on Wildfire Tax Relief Plan

Taxpayers affected by the wildfire disasters in Hawaii counties may now receive various forms of Hawaii tax relief, according to an announcement from the state’s Department of Taxation (DOT). The DOT has released details about how those affected can take advantage of this tax relief, which this article will go through in detail.

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Hawaii Wildfire
admin
Aug 31, 2023

IRS Announces Tax Relief for Hawaii Wildfire Victims

The Internal Revenue Service (IRS) has issued a declaration of tax relief to those affected by the wildfires that began on August 8, 2023, in parts of Hawaii.

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smaller tax refund
admin
Aug 17, 2023

Are You Receiving a Smaller Tax Refund

A Free dedicated Tax Professional could sort out the difference between your return and the original tax refund when you received a smaller tax refund

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tax refund
admin
Aug 10, 2023

How to Maximize Your Tax Refund with Form W-4

Maximizing your tax refund relies upon a few easy processes, research, and some preparation. Examining your tax situation, involving your partner when finishing up your tax form W-4

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student loan interest
admin
Jul 20, 2023

Student Loan Interest and Tax Form 1098-E

Are you aware of the Tax Form 1098-E for Student Loan Interest? For individuals currently repaying a student loan, Tax Form 1098-E may be mailed out from each lender.

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re-file tax returns
admin
Jun 8, 2023

Should I Re-File My Tax Return by Amending Tax Return?

How should one go about re-filing taxes by amending tax returns to take advantage of the new updates, and is it worth the effort

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