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Here are three tax breaks for you. For more information call me at (707) 567-9857. 1) Another tax break relating to college tuition The deduction for qualified tuition and related expenses claimed on Form 8917 can apply for the 2017 returns. The deduction, which includes expenses for both undergraduate and graduate courses, could reduce your taxable income by up to $4,000. So if you're in a 25% tax bracket, that could be a $1,000 savings. This is an above-the-line deductio...n, meaning you do not need to itemize deductions to claim it. But before you jump at this one, consider this: You cannot take this break with other education credits. So even if you filed earlier, you might have tapped into a better education credit. 2) Mortgage insurance premiums Homeowners who pay private mortgage insurance or what' s known as PMI want to pay attention here, especially if they're living on a tight budget. Mortgage insurance premiums can be treated on 2017 returns as qualified residence interest, generally claimed on Schedule A. See Line 13 under the category "Interest You Paid." 3) Foreclosure-related debt forgiveness The extension of this tax break only impacts taxpayers who foreclosed on their homes last year or possilby in earlier years. But it's a sizable tax break if you found yourself in that situation.

January 29, 2018 To help businesses apply recent law changes to withholding, the Treasury Department and the Internal Revenue Service issued Notice 2018-14 and Publication 15, Employer's Tax Guide. These materials are designed to help employers and employees with a variety of withholding matters during and after the transition to new, reduced tax rates and updated withholding tables. As a reminder, employers should be using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018. More information is available in Notice 1036. More information is available in the IRS Withholding Tables Frequently Asked Questions.

How to know it’s really the IRS calling or knocking on your door Many taxpayers have encountered individuals impersonating IRS officials in person, over the telephone and via email. Don’t get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received is truly from an IRS employee. The IRS initiates most contacts through regular mail delivered by the United States Postal Service.... However, there are special circumstances in which the IRS will call or come to a home or business, such as when a taxpayer has an overdue tax bill, to secure a delinquent tax return or a delinquent employment tax payment, or to tour a business as part of an audit or during criminal investigations. Even then, taxpayers will generally first receive several letters (called notices) from the IRS in the mail. When you get a notice contact me right away and we will make sure it it not a scam and will take steps to avoid any penalties

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The Child Tax Credit is an important tax credit that may save you up to $1,000 for each eligible qualifying child. When we do your taxes we will make sure you don't miss the credit that you are entitled to. There are a few restrictions Limitations. The Child Tax Credit is subject to income limitations. The limits may reduce or eliminate your credit depending on your filing status and income. Additional Child Tax Credit. If you qualify and get less than the full Child Tax Credit, you could receive a refund even if you owe no tax with the Additional Child Tax Credit.

You may have money coming to you. We make sure you get all the credit available to you. New clients 25% off. We pickup information and return completed return. Call (707) 567-9857

If you or someone in your family had health coverage in 2015, the provider of that coverage is required to send a Form 1095-A, 1095-B, or 1095-C (with Part III completed) by January 31, 2016, that lists individuals in your family who were enrolled in the coverage and shows their months of coverage. Use this information to help complete your return. If you did not receive your form contact the person who provided the insurance. If you had no insurance we may be able to get an exemption from a possible additional up to 325 tax for an adult or up to $975 Contact me soon for help at (707) 567-9857.