Record IRS Tax Collections For 2015: How To Get Immediate Tax Relief

Record IRS Tax Collections For 2015: How To Get Immediate Tax Relief

I was reading an article in Forbes this week called, “Tax Collections Hit Record Highs With No Dip In Spending“and wanted to share with you why this article shows how important strategic tax planning protects and covers your assets. To simplify, the Federal Government tracks annually how much they’ve collected in tax revenues year-to-date so they can report out as part of the government reporting the General Accounting Office. Tax revenues are up from 2014 compared to 2015, but it really doesn’t surprise me that tax revenues are up.  It really shows a trend towards what’s happening in our government, what’s happening with tax collection and our taxes in general. It’s important to know that if tax revenues are up, then something has transpired which is causing those spikes in those numbers. read...
Do You Have To File Your 2015 Tax Returns

Do You Have To File Your 2015 Tax Returns

Tax season opened with a bang and April 15th will be here before you know it. The Internal Revenue Service expects to process nearly 150 million individual 2015 tax returns by the time tax season comes to a close . Are you still wondering if you be filing one of those returns? And more important, do you need to? For the 2015 tax season tax return, you should report the income that you received in 2014. That includes pay received in 2014 but not pay you receive in 2015 for services performed in 2014 (you’ll report that income next year). Not every body who received income in 2014 has to file a federal income tax return. There are a number of factors that affect whether you have to file including how much you earned – and the source of that income – as well as your filing status and your age. For most folks, this is pretty straightforward. Using the chart below, choose your filing status, your age and your gross income for the year. If your gross income is above the threshold for your age and filing status, you should file a federal income tax return. These rules apply if no other person claims you on their federal 2015 tax return. read...

Tax Preparation Guarantees At Karla Dennis And Associates, Inc.™

When you work with Karla Dennis And Associates, Inc.™ and utilize the variety of professional tax services they offer, you can guarantee that you will get some of the best tax preparation services in the business. At At Karla Dennis And Associates, Inc.™, they are tax preparation professionals that know the code inside and out; they are continuously furthering their tax education and knowledge to ensure that their customers have the most thorough tax preparation service in the country. When you choose to let us handle your tax preparation you are provided with three different facets. The first of these is accuracy; because each and every one of the professionals here are Enrolled Agents and has undergone rigorous testing, the guarantee that all tax preparations and returns are 100% accurate. This includes qualifying deductions as well as all other codes that are applicable to your situation. Next, we ensure that your tax return is completed in a timely fashion and always stay in contact with the customer so they know the status of their tax preparation. Lastly, we also ensure peace of mind. Is the deduction you’re attempting to take today going to get you audited or throw up a red flag to the IRS? At Karla Dennis And Associates, Inc.™ is here to make sure that the best decisions are made with regards to your tax preparation. read...

Businesses can help Japan and save BIG on Taxes

With the constant news coming in from Japan concerning nuclear fallout, the earthquake and tsunami, many are yearning to help the citizens of Japan. If nothing more, the mere photos are gut wrenching. As a business owner, you may be wondering how you can help the citizens of Japan without cutting into your own budget. We all know the US economy is not doing so great but we’ve outlined below five quick and easy tax tips for you to be able to donate to the citizens of Japan and still keep your everyday spending as low as possible: read...

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