How to Find Out If the IRS Will Take My Income Tax Check Challenging an Offset If you receive a notice of offsets from the TOP, and you believe that one or more of those debts were not legitimate, you have the option of challenging it. The TOP's call center will provide you with t...
Did you make a mistake on your tax return or realize you missed out on a valuable tax deduction or credit? You can file an amended tax return to make the correction. Filing an amended tax return with the IRS is a straightforward process. This article inc
Let’s start by adding up your expected tax withholding for the year. You can find the amount of federal income tax withheld on your paycheck stub. Ugh, we know. It’s been years since you’ve looked at your paystub, and you don’t even remember how to log in to your payroll syste...
One simple way to ensure your prices are fair to you (and other artisans) is to look at sellers in your niche. Find 3-5 who are selling items similar to yours and find the average price. This can give you an idea of where your own pricing might fall, but should, in no way, dete...
Before preparing the 1040-X, it’s always a good idea to make sure that the statute of limitations won’t prohibit you from filing it. The statute of limitations refers to the amount of time you have to amend a tax return after it’s already filed. Generally, you have three y...
tax return, you are providing a detailed breakdown of your sales activities, including the total amount of sales made and the corresponding sales tax collected. This information allows the taxing authority to verify that you have accurately calculated and collected the correct amount of sales tax. ...
One snag in estimating your itemized deductions is you won’t necessarily know the tax benefit until after you donate the car. The amount you can deduct for a vehicle contribution depends upon what the charity does with the vehicle. It might: Sell the car. Your charity may try to sell you...
So you need to find the sweet spot between how much inventory you order and how much you keep in storage. If you’re ordering inventory from halfway around the world, there are additional considerations. “You will have to arrange for either air freight or maybe an ocean container, so ...
Below, we answer questions you might have about per diem, how it works, and what it involves tax-wise. Key Takeaways Per diem is a fixed dollar amount established to reimburse employees for various types of charges. Per diem rates can be tied to daily lodging, meals, miles driven, and...
The cost of a tax professional might also be offset by tax credits or other savings they might find for you. What Is My Adjusted Gross Income (AGI)? Adjusted gross income or AGI is your total income minus deductions you're eligible to take or "adjustments to income," as the IRS calls...