1040Return.com’s blog with tax tips and information regarding tax credits, tax forms, and tax updates/changes.
The fate of a Labor Department rule extending mandatory overtime pay to workers by doubling the eligible salary cap is uncertain under the new presidential administration. The rule introduced [...]
The IRS recently announced mileage rates to be used for travel in 2017. The business mileage rate decreases by 0.5 cents while medical and moving mileage rates are lowered [...]
New Year's resolutions are notoriously easy to make, but hard to follow. With that in mind, here are a few ideas worth trying this year: Pay yourself first. This [...]
Virtually anyone with a qualified retirement savings account can convert funds into a Roth IRA. A Roth is different from other retirement accounts in that contributions come from after-tax [...]
Nearly every taxpayer can imagine a worst-case scenario where they run afoul of the IRS and are selected for an audit. Here are a few areas that tend to [...]
IR-2016-167, Dec. 9, 2016 WASHINGTON ― The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017, and reminded taxpayers claiming certain tax [...]
We are humans and unlike computers we have a limited capacity to retrieve and recall information. So let’s not depend a lot on our memory when it’s about keeping [...]
Let’s be realistic for a moment. It’s quite possible that people who haven’t yet started doing their taxes might not be able to finish by 15th April, 2015. There [...]
“There are certain deductions that can be claimed by homeowners only,” says John Gregory EA, tax practitioner and founder of 1040Return.com. “If you have taken out a homeowner’s loan, [...]
The IRS norms specify that self-employed professionals are supposed to pay self-employment tax and file self-employment tax return in case their net earnings exceed $400. The Form 1040 Schedule [...]
