- Educators can deduct up to $250 of trade or business expenses that were not reimbursed. As teachers prepare for the next school year, they should remember to keep receipts after making any purchase to support claiming this deduction.
- To be considered an eligible educator, the taxpayer must be a kindergarten through grade 12 teacher, instructor, counselor, principal or aide. They must also work at least 900 hours a school year in a school that provides elementary or secondary education as determined under state law.
It is that time of the year again – Payroll taxes. They are required to be filed by 7/31/19. Need some help please contact me.
If you receive a notice from the IRS you need to respond within 30 days. If you are unsure of what the notice is asking for please reach out to an Enrolled Agent like myself to assist you with correspondence to avoid more notices and possibly tax court.
Members of the armed forces are entitled to certain tax benefits including – 1) Combat pay exclusion, 2) Deadline extensions, 3) Earned income tax credit, 4) Joint return signatures, 5) Military Volunteer Income Tax Assistance program, 6) Reserve and National Guard travel, 7) ROTC allowances.
Penalties and interest are only added on unfiled returns if the taxpayer did not pay taxes by the April deadline. Taxpayers who did not file and owe tax should file a tax return and pay as much as they are able to now.