Benefits of e-Filing Your Taxes

Did you know that more than 70 million taxpayers file their tax returns electronically each year? The Internal Revenue Service is working towards having every taxpayer eventually file their taxes online because it’s a far more efficient and cost-effective way for them to process the tremendous amount of tax-related data they receive. Choosing to e-file [...]

When to Expect Your Tax Refund

While it would be wonderful to receive your tax refund immediately after filing, the Internal Revenue Service has a schedule that it follows for issuing federal tax refunds. They call this the “refund cycle” which can be seen in Publication 2043. For tax returns accepted by the IRS before 11 am on Wednesdays, the IRS [...]

Do You Qualify for the Earned Income Tax Credit?

The Earned Income Tax Credit, or EITC for short, is a tax credit designed for lower income individuals and families. Originally approved back in 1975, the credit was initially created to offset the burden of social security taxes and to provide an incentive to work. The amount of Earned Income Tax Credit can vary depending [...]

File for a Tax Extension before the Due Date!

It may be hard to believe, but the deadline for filing your taxes is quickly approaching. Of course, it’s always best to file on or before the deadline, but there is an option for individuals who need more time. The IRS offers a six-month extension of time to file your federal tax return. For 2012, [...]

Two Ways You Can Still Reduce Your Tax Liability

While you may be busy cleaning up after the holidays – now is NOT the time to forget about your income taxes!  Even though 2012 is already here, you still have time to do a few things that will reduce your tax liability.  Whether it is your individual or business taxes, these two tips can [...]

Tax Projections 2012

It may be hard to believe that we are quickly approaching the end of 2011. As always, it’s important to review your year-end tax projections to see what can be done to reduce your income tax obligations. The most important part of all tax planning is the planning! April 15th is far too late to [...]

Tax Deadline Questions Answered!

That October 17th tax deadline is looming (for those who have filed for an extension), and the tax year-end is coming into sight.  Whether you will file personal income tax returns for the first time or the 40th time, there are always questions to be answered.  Understanding the individual income tax filing basics, will help [...]

Taxes – Start Thinking Ahead

Temperatures in Los Angeles are finally beginning to cool, ushering in the beautiful weather of fall.  While these changes may signal the coming of the holiday season, it should also be a reminder that the tax year is almost at an end.  If you needed more time to prepare your federal tax return this year, [...]

The Tax Extension Deadline Is Fast Approaching

Living in a Southern California city like Los Angeles, Encino, Woodland Hills, Beverly Hills or even Malibu, it can often feel that everything is rush, rush, rush.  Without a doubt, it’s easy to fall into the trap of falling behind on things like taxes when simply trying to keep up with the frenetic pace of [...]