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Apr 11, 2013Can I Deduct Continuing Education When I Claim the Lifetime Learning Credit?
The IRS does not allow you to claim both a credit and a deduction for the same educational expenses, so you have to choose whichever gives you the greatest benefit There are several different tax benefits available to students to help ease the cost of higher education. However the IRS does not allow more than […]
adminApr 4, 2013Hawaii State Tax Refund Status
Aloha! Let’s check that Hawaii refund status, shall we? Hawaii may seem far off from the rest of the U.S. with it’s amazing weather and coconut trees. Don’t worry, though. The IRS could never forget a state with the second highest tax rates in the country (shout out to NY in #1!). Whether you’re expecting […]
adminMar 28, 2013File a 2010 1040A – No Tax Forms Necessary
Don’t bother with printable forms. Prepare your 2010 return online and still get a refund On PriorTax you can still file a 2010 tax return and get a refund – no tax forms necessary. Many late filers are under the mistaken impression that just because some of the major tax companies don’t let you prepare […]
adminMar 22, 2013How To File State Taxes Late
Preparing your late state tax returns is easy! Gathering your old information is the challenge. When many people suddenly remember that they skipped filing their state return a couple years ago or receive an abrupt letter from their state tax authority ordering them to file a return they immediately start to despair. They needn’t – […]
adminMar 21, 2013File Tax Extension Online
You can electronically file a tax extension on PriorTax starting April 1st If you know that you won’t be able to file your return by the April 15th deadline, you can buy yourself some extra time by filing an extension online. It’s easy and it’s free. All you have to do is create an account […]
adminMar 19, 2013Can I Claim My Boyfriend as a Dependent?
You may be able to claim your boyfriend as a qualifying relative, but only if he meets certain requirements. The answer to the question of whether or not you can claim your boyfriend as a dependent is maybe, but probably not. The first thing to get straight is that there are actually two different types […]
adminMar 15, 2013How Long Does It Take for the New York State E-File to Process?
New York State says to expect your refund in 14-30 days, but many are experiencing delays Once you’ve filed your federal and state returns, you begin the dreaded waiting game. The states tend to be a little slower than the IRS. So even after you get your federal refund, you could still be worrying about […]
adminMar 12, 2013Estate Tax 2014
The Estate Tax is a tax on your right to transfer property at your death. Despite the dysfunction and last minute deals surrounding the fiscal cliff, Congress actually came up with a pretty good solution, at least for the Estate Tax, in the American Taxpayer Relief Act passed in the early hours of 2013. The […]
adminMar 8, 2013Calculating Alternative Minimum Tax
You got a raise and now you have to calculate AMT on top of your regular tax! As if the tax code weren’t complicated enough, many taxpayers have to worry about calculating the Alternative Minimum Tax (AMT) on top of their regular tax liability. What is the Alternative Minimum Tax? The AMT is a separate […]
adminMar 4, 2013What If You Live in a State That Has No Income Tax and Work in a State That Does?
Are you taxed where you work or where you live? Most people live and work in the same state, so filing state taxes is a no-brainer. But when you live and work in different states, taxes can get really confusing really fast, especially if your home state doesn’t have an income tax. So where exactly […]
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