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Monthly Archives: June 2017

Southbourne Tax Group Review – How to Manage Taxes as a College Graduatec

Posted by penningbeal16 on June 15, 2017
Taxes / Comments Off

Graduating from college is probably one of the most fulfilling triumphs you’ll ever achieve in your entire life. However, that joy also brings bigger responsibilities in life that could affect tax time too. This specific time in your life will have a lot to offer and before the winds of change take you to wherever you dream of, here are some advices from Southbourne Tax Group to make your taxes easier where you can get a refund during filing time and save money as well.

If your modified adjusted gross income is below $80,000 and you’re single, up to $2,500 of the interest portion of your student loan payments can be tax deductible, and below $160,000 for married person filing jointly.

Job hunting expenses can be tax deductible too but there are exceptions such as expenses involved in your search for a new job in a new career field and working full-time for the first time. Major tax breaks are expected in case you are moving to a new and different city for your first job.

Get a jump start on retirement savings with your company’s 401(k). Each year, you can secure up to $18,000 from your income taxes by contributing on one. If you have a family coverage, you could secure $6,750 from contributing to a health savings account in case you are enrolled in a high-deductible health plan. And if you are single, you can secure up to $3,400. Placing your money into a flexible spending account could keep an added $2,600 out of your taxable income.

Getting big deductions for business expenses is possible if you are planning to be a freelancer or to be your own boss as a new college graduate. Southbourne Group also advises saving at least 25% of what you’re earning for the IRS.

Research more about lifetime learning credit and understand its importance. You can claim up to $2,000 of a tax credit for post-secondary work at eligible educational institutions. This is possible if your adjusted gross income is below $65,000 as a single filer, or below $131,000 as a married person filing jointly.

Saving money has a lot of benefits and one of which is cutting your tax bill. If you’re a married person filing jointly and have an adjusted gross income of less than $62,000, you may qualify for the saver’s credit, while for a single filer, it should be below $31,000. That can reduce your tax bill by up to 50% of the first $2,000 if you’re a single filer, or $4,000 if you’re a married person filing jointly you contribute to an eligible retirement plan.

Southbourne Tax Group doesn’t want you to overspend on tax software and getting professional help in this regard. The firm suggests using the free packages from trusted tax software companies if your tax situation is quite simple. Get that professional help at Volunteer Income Tax Assistance program, which can help you meet with a pro at little or no cost.

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Southbourne Tax Group Review – How to Handle Taxes Easier as a New College Graduate

Posted by penningbeal16 on June 13, 2017
Tax / Comments Off

Welcome to the real world” You probably heard this lot of times as a fresh college graduate. Indeed, expect a huge wave of life changes to come your way, which has huge effects at tax time as well. Southbourne Tax Group understands your worries so the following few ways were prepared to save money or even get a refund during filing time, which can also make taxes easier for you.

If your modified adjusted gross income is below $80,000 as a single filer, or $160,000 for married couples filing jointly, $2,500 of the interest portion of student loan payments can be tax-deductible. And if the loan is in your name but your parents make the payments, you can still qualify for the tax break.

If you are searching for a job in a new career field or a full-time work for the first time, you can’t deduct your job hunt expenses. However, major tax breaks are possible if you are moving to a new city for that first job, Southbourne Group needs you to ensure checking the rules first.

You can begin with your retirement savings if you contribute to your company’s 401(k) and up to $18,000 can be secured from income taxes each year. Moreover, contributions to a health savings account could secure another $3,400 each year if you’re single and $6,750 if you have a family coverage, and if you’re also enrolled in a high-deductible health plan. You can keep an additional $2,600 out of your taxable income if you put money into a flexible spending account.

As a new college graduate, you can claim big deductions for business expenses if you are planning to freelance or be your own boss. Southbourne Tax Group suggests saving 25% of what you earn for the IRS.

Southbourne Group also needs you to be familiar with Lifetime Learning Credit. You are able to claim a tax credit of up to $2,000 every year for post-secondary work at eligible educational institutions if your modified adjusted gross income is below $65,000 (single filers) or below $131,000 (married filing jointly). A single class will do, you don’t need to be in a degree program.

Cutting your tax bill is also possible by saving. Qualifying for Saver’s Credit is likely if you’re single and have an adjusted gross income of less than $31,000 (or $62,000 if married and filing jointly). With this, your tax bill can be reduced up to 50% of the first $2,000 (for single filers) or $4,000 (married filing jointly) you contribute to an eligible retirement plan.

Southbourne Tax Group also needs you to remember not to overpay for tax software or professional human help. If you have a simple tax situation then you can use the free packages offered by many tax software companies. With little or no cost, you can get a professional help from the Volunteer Income Tax Assistance program or other related programs.

 

Mentioned above were very easy to remember. You may further your search to gain more know-hows.

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SouthBourne Tax Group Review – Don’ts i arkivering din afgifter som en tusindårig

Posted by penningbeal16 on June 05, 2017
Tax Software / Comments Off

Ikke bare millennials kan drage fordel af dette indlæg men andre fagfolk, der har en hård tid på deres skatter. Studielån, nogle investeringer, side svindelnumre, osv., som et tusindårsrige, har du en masse finansielle ansvar at overveje. Southbourne gruppe sigter mod at give rigelig vejledning i håndtering af afgifter og indgive dem med følgende.

Gå ikke glip af fristen. Være i kontrol og organiseret, således forberede alt på forhånd. Du kan helt arkiverer din skat eller anmode om en forlængelse eller betaling lån. Overskredet tidsfristen uden at give ordentlig meddelelser? Så forvente sanktioner, interesse og sene gebyrer.

Ikke ignorere brugen af den rigtige skat software. Software kan høj grad hjælpe en tusindårig i arkivering hans skatter. Personer med $64.000 eller mindre indkomst blev tilbudt gratis software af IRS.

Glem ikke om din side trængsel udgifter. Udgifter til udstyr eller forsyninger, der anvendes i din side stress kan fratrækkes på selvangivelsen, reducere din skattepligtige indkomst.

Ikke ignorere uddannelse skattebesparelser. Lære at maksimere det fordi det er for det meste fradragsberettigede. Skat software havde prompter, der kan give nogle hjælp, men hvis du har brug for yderligere professionel hjælp, kontakt en skatteekspert. Liste ned alle dine højere uddannelse udgifter til kender dem, du er kvalificeret til.

Ikke skuldertræk dine skuldre på saver’s kredit. For at motivere folk til at sætte deres penge på en tilbagetrækningskonto, tilbyder IRS saver’s kredit, der kan reducere din skatteopgørelse ved udgangen af året. Din justeret bruttoindkomst er grundlaget for det beløb, du er kvalificeret til.

Må ikke overse din job søgning udgifter. Hvorfor? Fordi sådanne udgifter er fradragsberettigede, bare sørg for det er i din nuværende karriere felt.

Ikke foretage beregninger i en fart. Det har brug for din hele fokus og koncentration at styre klar fra at have fejl. DIY skat program har også indbyggede funktioner, der kan hjælpe dig med at sikre nøjagtigheden af dine skatteoplysninger. Sådan kan høj grad hjælpe dig i arkivering din afgifter.

Må ikke haste og gøre alt på dagen for fristens udløb. Oprette alt i forvejen som per anvist af Southbourne momsgruppe. Dedikere en dag for dig at forberede alt hvad du behøver i arkivering din afgifter vej forude inden fristens udløb.

Ovennævnte er ikke svært at følge, højre? Southbourne gruppe kan give dig en grundig diskussion af hver, bare Giv dem et kald og de vil altid være klar til at hjælpe dig i din skat.

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