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IRS Personal Taxes

by Staff Writer on December 05, 2018  0 Comment

IRS Personal Taxes
Owing taxes to the IRS is a serious matter that must be resolved as soon as possible to avoid unpleasant consequences and unnecessary stress. Once you've realized that you owe a hefty tax bill, you must be proactive about the situation, especially if you find yourself unable to pay in full right away. Whether you are short on money due to an emergency or some significant life event, you need to know what to do next and what mistakes to avoid. Costly Mistakes — What Not to Do Before we go into details about what to do if you owe taxes, let's look at some common mistakes taxpayers make. Not Filing Your Return Many taxpayers tend not to file a ...

Tax Tips for Nurses

by Staff Writer on November 29, 2018  0 Comment

Tax Tips for Nurses
Nursing is an attractive career for those who want to serve others while enjoying challenging work, competitive pay, and the opportunity for professional growth. If you're a nurse, keep in mind these tax tips to maximize your potential refund. Nurse-Specific Tax Deductions Itemizing your tax deductions can potentially reduce your tax burden compared to taking the standard deduction, depending on the total amount of your deductions. Nurses might be unaware of certain professional deductions they can claim on their tax returns, including: Medical supplies and tools beyond what your employer provides. For example, perhaps you purchased your own stethoscope; the cost is tax-deductible. Keep in mind that equipment that will be used for longer than a year must be deducted ...

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