Tax Expert Reveals Tips to Avoid an IRS Audit and Maximize Your Savings
Meisa Bonelli of Millennial Tax, the leading provider of strategic business planning and tax preparation to home-based businesses, start-ups and solopreneurs, reveals her best tips for navigating tax season, how to deal with IRS debt and audit and tax money management strategies. Being proactive, organized and following some simple steps can make taxes less daunting and lead your business on the path to growth. TheStreet's Jill Malandrino reports from the Nasdaq MarketSite.
When it comes to taxes, your chances of being audited by the IRS vary wildly depending upon your income. How do you avoid red flags that could increase your chances of getting an audit notice in the mail? WSJ's Jason Bellini has #TheShortAnswer.
With the IRS filing deadline just a heartbeat away, many Americans will be in a rush and make mistakes on their income tax returns. MainStreet provides a few tips to help you avoid the most common filing errors especially if you are doing it yourself. First, don't leave anything blank on your return, especially those check boxes. Always check the printer: it's not uncommon for tax payers to leave behind a worksheet or schedule. Lastly, enter your social security number correctly.
Taxpayers seeking to capitalize on their income tax returns should consider opening or adding to an existing retirement account or use their refund to pay down high interest credit card balances, says Greg Rosica, Tax Partner at Ernst & Young.
If you rent your place using Airbnb and other services, the IRS will know about it. Do you need to pay tax on these earnings? If so, how can you lower the bill? WSJ's Jason Bellini has #TheShortAnswer.
http://turbotax.intuit.com Discover this year’s federal tax tables and how choosing your best tax filing status may earn you a bigger tax refund. Watch now to learn more about IRS tax tables for the coming tax season.