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Tax Credits for Home Improvements

April 25, 2015

The IRS tax code is a labyrinth out of which no one can escape without a guide. We are that guide. Many homeowners are unaware that they’re entitled to various tax credits associated with home improvements. This can be exciting news for homeowners, who realize they can put money in their pocket while simultaneously increasing […]

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Income Exclusion for Expatriates

April 15, 2015

Kathleen M. Egan CPA offers a wide array of financial solutions for residents of the phoenix metropolitan area. Kathleen M. Egan CPA offers income exclusion services for expatriates reporting foreign incomes. Many are not aware that an American living abroad can exclude up to $95,000 dollars on income taxes for that year. Moreover, married couples […]

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Social Security Benefits and Your Taxes

March 5, 2013

Some people must pay taxes on their Social Security benefits. If you get Social Security, you should receive a Form SSA-1099, Social Security Benefit Statement, by early February. The form shows the amount of benefits you received in 2012. Here are five tips from the IRS to help you determine if your benefits are taxable: […]

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Take Credit for Your Retirement

March 3, 2013

Saving for your retirement can make you eligible for a tax credit worth up to $2,000. If you contribute to an employer-sponsored retirement plan, such as a 401(k) or to an IRA, you may be eligible for the Saver’s Credit. Here are seven points the IRS would like you to know about the Saver’s Credit: […]

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Four Tax Tips about Your Unemployment Benefits

March 2, 2013

If you received unemployment benefits this year, you must report the payments on your federal income tax return. Here are four tips from the IRS about unemployment benefits.   1. You must include all unemployment compensation you received in your total income for the year. You should receive a Form 1099-G, Certain Government Payments. It […]

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Filing an Extension Might Work in Your Favor

March 2, 2013

There are times when April 15 just comes too early. You do have the option to file an extension for your tax return. An extension will give you an extra 6 months to get your return together and sent in. Like most things, there are pros and cons to filing the extension, it depends on […]

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Taxable and Non-Taxable Income

February 20, 2013

In general, most income that you receive will be taxable income. There are very few exceptions to this rule. If you work for it, trade for it, win it, accept a cash gift or get it in money, property, or services, the government wants their fair share. The IRS Tax Code describes this as “Income […]

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Preparing for Your CPA Meeting

February 6, 2013

The average person likes to procrastinate when it comes to their tax return. This is because preparing for taxes is often a complicated and frustrating process. Unfortunately, this means that many people are not saving as much money on their taxes as possible. Countless CPAs have stated that the sooner a person gets his or […]

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Finding the Right CPA for You

February 3, 2013

Having the right CPA can help you reduce your business costs right off the bat, from streamlining expenses, to reducing tax debt, the right CPA is a powerful partner that most businesses should never neglect. With over 700,000 CPAs registered with the IRS, find the right one can be a daunting task. How to find […]

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Tax Forms: A Quick Look for Individuals

January 20, 2013

There are a plethora of 2013 tax forms. Some of these forms you will receive in the mail from your employer and the IRS, and others you might need to be download or your CPA will provide them. A small sampling: W-2 An employer must fill out a W-2 form for every employee they pay […]

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Tax Organizer Download

Prepare for your 2016 taxes with our handy tax organizer. You’ll have all of your tax-related information documented in one location so you’re ready for your tax appointment.