Last year, you made a major career change. You moved from your safe, corporate job and branched out on your own. Things have gone well. Your earnings have been high, and you’re considerably happier in your new position.However, when you prepared your tax return...
Month: July 2018
What you should know about foreign asset reporting
Filing your taxes can be complicated. If you have financial assets in foreign countries, however, the process becomes even trickier. Since 2010, it is the law to report any money that is held outside the United States to the Internal Revenue Service (IRS). Do you know...
Is there ever a “good excuse” not to file your taxes on time?
Filing your tax return is an annual chore that most of us would rather not think about. All of the complicated paperwork can quickly make for a headache. And if you’re expecting your tax return filing to result in a lighter wallet this year, it’s...
Three key tax benefits you could receive as a veteran
If you served in the U.S. military, your taxes will likely be more complicated than for the average civilian. Veterans are entitled to a multitude of tax benefits—and it’s easy to let some key tax breaks slip through the cracks.In today’s post, we...
Good news for people with a tax lien
Having a tax lien can be a huge burden in your life. If you failed to pay your taxes, the government can put a claim on your property—which can include land, personal property and financial assets. This can be a worrisome prospect. And if you can’t pay off...
Working remotely abroad? Follow these special tax guidelines.
In the digital age, Americans are increasingly seeking remote jobs—giving them the flexibility to work from anywhere in the world, all from their own laptop. It’s important to understand that if you spend your days writing corporate communications on a...
How long do I need to hold on to my tax records?
Preparing your tax return can be a confusing process. In addition, many tax payers are unsure of what to do with their tax returns and supporting documentation once it’s been submitted. Are you allowed to throw these records away? Are you expected to keep them...
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