Posted in Claiming Dependents, Earned Income Credit (EIC), Family-related, Filing Status on Jan 16th, 2008 No Comments »
You must determine your filing status before you can determine your filing requirements, standard deduction (discussed later), and correct tax. You figure your correct tax by using the Tax Computation Worksheet or the column in the Tax Table that applies to your filing status.You also use your filing status in determining whether you are eligible [...]
Posted in Claiming Dependents, Filing Status, Tax Credit, Tax Deductions, Tax Refunds, Tax Troubles on Jun 25th, 2007 No Comments »
By Afiya Madzimoyo, ComproTax/ATL/Decatur, GA Office Manager
Our offices never close, and we’re here to support you with any corrections or addditions needed.
Tax season is well over now, and you filed on time, but now you realize that you made an error. What to do? File a corrected, accurate return. File an [...]
Posted in Claiming Dependents, Tax Refunds on Jun 6th, 2007 No Comments »
(’300×250_1′); Â Tuesday, June 5, 2007
With the tax year nearing the halfway point, the Internal Revenue Service encourages taxpayers to check their withholding to make sure what is being taken out of their paychecks matches their projected taxes. This year, about 3.3 million New Jerseyans received a refund that averaged nearly $2,300 [...]
Posted in Claiming Dependents, Tax Deductions, Tax Refunds on Apr 24th, 2007 No Comments »
From William Perez
Important Tax Figures for 2007
Standard Deduction
Single: $5,350
Head of Household: $7,850
Married Filing Joint: $10,700
Married Filing Separately: $5,350
Qualifying Widow/Widower: $10,700
Dependent: $850-$5,350*
Additional Amount if Blind: $1,050
Additional Amount if age 65 or older: $1,050
More information about the standard deduction.
* Dependents must calculate their standard deduction using an IRS Worksheet.
Personal Exemption
Per taxpayer and dependent: $3,400
More information about personal [...]
Posted in Claiming Dependents, Late breaking news, Tax Alerts on Apr 17th, 2007 1 Comment »
This week a citizen like you from Bayport, NY wrote to Congress to propose that dogs be tax deductible like children or any other dependent. Read their proposal. Do you think Congress should introduce a law to make pet costs tax deductible? Tell Congress. Preliminary results are 49% in favor of making pets tax [...]
Posted in Claiming Dependents on Mar 4th, 2007 No Comments »
Monday, February 5th, 2007
This past week a couple in our office brought us face-to-face with some of the realities of the Working Families Tax Relief Act of 2004.
When the unmarried couple came in earlier in the week, the sister had let me know that she had been disallowed the earned income credit about 6 years [...]
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