Category Archives: Looking at Life Through Taxes

It’s Tax Season

Okay…so First,
Farewell Mr. President and First Lady Obama thank you for eight glotious years

…and Second…

IT’S—-TAX ———-Season 2017 !!!!

FlashBack**** On December 18th 2015, the President signed into law the Protecting Americans from Tax Hikes Act of 2015, HR 2029, PL 114-113 (the “PATH Act”), which extends or makes permanent over (50) fifty expiring tax provisions relting to businesses and individuals. This Year….the PATH Act  extends key tax provisions for businesses and individuals. So make sure that your Paid Tax Preparer knows the latest on Tax Seasib 2017 Tax Provisions for Businesses including the  Work Opportunity Tax Credit; Depreciation & Expensing Provisions; Energy Credits and Deductions; What’s new with S Corporations;  International Tax Provisions; Individual Income Tax Provisions; Deductions for  State and Local General Sals Taxes in Lieu of State and Local Income Taxes;  Non-Taxable IRA Transfers to Eligible Charities and Exclusions from Gross Income of Discharge of Indebteness. Just remember…It’s always Good to Know before you Go!

So…What’s Happening this tax season? The Health Insurance Marketplace.

To all my author/writer friends and family. …don’t delay. To family and friends from city to city and state to state…the same message applies. Don’ forget-your Health Insurance Coverage. So check with your Insurance Providers  for your Health Care Coverage Statements for you & your DEPENDENTS (Form 1095-A) (Form 1095-B) & (Form 1095-C). These forms show the total premiums that are paid to your selected companies. Just like you need to provide your W-2 or 1099 form, you also need to provide your tax preparer with the 1095 forms (A) (B) or (C) when you sit down to have your taxes prepared. Remember, if you do not get…or don’t have  healthcare, during the mandatory enrollment period, they you may have to pay a penalty. So before you jump up and get the pre-filing bug, take a moment and make sure you have all the documents needed before filing.  Don’t go out and jump the gun with Any and Every Joe Schmo to have your taxes done without making sure that-that person goes over what’s needed this year; AND before they lock you in…committing you to a bunch of unanswered questions and a bunch of hidden fees.

Alright Now…What’s New this tax season?

Not that it’s all new …but You need to know the RULES for Claiming a Dependent on Your Tax Return, so make sure that your Paid Tax-Preparer has your best interest in mind and that they know the Rules.   If you are Itemizing, make you know what is deductible and what is not. If you are  ‘Self Employed”  make sure you know or are  told what the general self-employment tax rate is for  the year or prior years are.

If in doubt…visit your local H & R Block Office…Our Tax Professionals are more than willing to provide you with a Second Look at your prior (2013, 2014, 2015 )Year Tax returns. Special Tax Benefits for Armed Forces Personnel, The Military Family Tax Relief Act; Taxable and Nontaxable Income; Disability Claim Tax Considerations and more.

APRIL 18th is the final date for this season…so just putting it out there.
Everyone KNOWS that Uncle Sam and the IRS ( DON’T PLAY) when it comes to taxes.

If you are in the Saint Louis, MO area..feel free to come visit me at
H&R BLOCK…..on Delmar at Union.
You can also visit H&R Block online
kristen.collins@tax.hrblock.com
or
Any H&R Block Office near you nationwide.
For Small Businesses and the like…we have tax offices as well as our Block Advisors who are readily available to assist with all of your tax needs. We look at your life through taxes; and we are here for you year-round.

Here in the LOU, our Advisors are located in Westport Plaza…for all others use the hrblock directory or Google the closest office near you.
So gather your W2’s…1099’s, and  other documents like college credit deductions for students, IRA’s we’ve got you too!

And…so,

Let’s get those deductions!!!!

Kristen Collins/Sr. Tax Specialist

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