What documents do I need for the 2022 tax season?

Whether or not we have a tax professional, most of us would like to make sure we have everything we need once we get started. This list will cover the basics and highlight some newer items to consider for the 2022 tax season.  Receipts or proofs of payment needed to support deductions or credits Start…

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Tax Tips for Gig Workers and Self-Employed Taxpayers

Gig work or self employment can be rewarding both financially and from a sense of freedom. But if you want to maximize the financial benefit and handle the taxes correctly, it takes some effort in planning and research and in maintaining records.  Whether you are new to the gig economy or have been doing it…

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What to do when you didn’t receive your tax refund

Let’s look at what to do if you think your tax refund is delayed.  Causes for tax refund delays If you submitted a tax return electronically and have requested to receive your tax refund via direct deposit, the IRS states you will normally receive a refund within 21 days.  There are exceptions.  If you are…

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2021 Changes to Child and Dependent Care Tax Credit

Many of our 2021 tax-focused articles focus on changed to the Child Tax Credit And rightfully so because they are big changes that helped families across the nation. But the changes for the Child and Dependent Care Tax Credit are incredibly helpful as well, so let’s take a closer look.  About the Child and Dependent…

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5 Tips to help navigate 2021 changes to filing taxes

Navigating changes to the tax code every year can be overwhelming. To simplify your tax season, we gathered five changes for 2021 that may impact your tax return.  1) Recovery Rebate Credit  The third stimulus payment (Economic Impact Payment as the IRS calls them) during the COVID-19 pandemic is accounted for in the 2021 tax…

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How the Child Tax Credit will affect your tax return

Advance Child Tax Credit payments in 2021 were incredibly helpful for families, particularly with prices going up this year. But how does it affect your tax return during the 2022 tax season? Will you owe or will you get a smaller refund?  Just like many personal finance questions, the answer to this one is, “it depends.”…

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What to do when the IRS sends you Letter 6419

The IRS Letter 6419 is a new letter anyone receiving advance Child Tax Credit payments should be anticipating.  In January 2022, the IRS will send out these letters to households. Letter 6419 will serve as a reminder to log into your IRS tax account and make sure the advance Child Tax Credit payments the IRS…

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