by Angie | Jan 18, 2023 | Itemize, Standard
To simplify this question, first, you need to know what is the standard deduction for your situation? The 2022 Standard Deduction for Single or Married filing separately is $12,950, for Married filing jointly orQualifying surviving spouse is $25,900, and Head of...
by Angie | Jun 7, 2022 | 1040, Dependent, Taxes
The finish line is finally here…. Line 29 is for the American Opportunity Credit. This is an education credit that can be taken for students in college. It helps reduce the amount of taxes owed or may even increase your refund. You will need to fill out Form 8863,...
by Angie | Mar 30, 2022 | 1040, Taxes
So, now we must discuss the most important part of a 1040. Line 1. Yes, the dreaded line 1. Wages, salaries, tips, etc. What’s etc. anyway? Really? We as citizens must decipher what etc. is? Well, if you want a basic summary of what all that means, here ya’ go....
by Angie | Mar 24, 2022 | Dependent, Taxes
One of the questions I get a lot is who is considered your dependent? Such a simple question, right? But, of course not (as you may have guessed). Even my eyes crossed at their many pages long answer. I’ll give you some basics: a “child” dependent can be your...
by Angie | Mar 24, 2022 | Taxes
Taxes are fun, said no one ever, well, except for me and the IRS. There’s nothing I can say to make taxes fun for you to read, but what I can do is explain taxes in a way that you can understand better than trying to read the exciting and thrilling IRS tax code...
