You are here

Home

Blog

Selecting And Working With A Tax Preparer

Submitted by Debra Rodway on Thu, 2018-01-04 13:31

It's tax time again. Taxpayers should choose their tax return preparer wisely.  This is because taxpayers are responsible for all the information on their income tax return. That’s true no matter who prepares the return.

Here are several tips for taxpayers to remember when selecting a tax preparer:

Check the Preparer’s History. Ask the Better Business Bureau about the preparer. Check for disciplinary actions and the license status for credentialed preparers.

Ask about Service Fees. Avoid preparers who base fees on a percentage of the refund or who boast bigger refunds than their competition. When asking about a preparer’s services and fees, don’t give them tax documents, Social Security numbers or other information.

Charitable Contributions: What Can You Deduct On Your Tax Return?

Submitted by Debra Rodway on Wed, 2017-11-15 09:59

During the holiday season many people make donations to benefit charitable organizations. It's great to help others, and your contributions make a difference in people's lives. There is another benefit . . . you may be able to claim a deduction for the donation on your federal tax return.

Here are five facts about charitable donations:

1. In order to qualify for a deduction, you must donate to a 'qualified' charity. Gifts to individuals, political organizations, or candidates are not deductible. Use Exempt Organizations Select Check to check the status of a charity to see if it qualifies.

Proposed Bill Would Eliminate Ohio's 'Marriage Penalty'

Submitted by Debra Rodway on Wed, 2017-09-20 09:08

State Representatives John Becker and David Leland are sponsoring a bi-partisan bill to eliminate the 'marriage penalty' in Ohio.

Married Ohioans have to figure out every year what filing status they are going to use — married filing separately or married filing jointly. Often the best option for the couple on their federal return is not the same as it would be on their state return. Because Ohio forces couples to file with the same status on both state and federal returns, they could be hit with what some call a marriage penalty for filing jointly. Filing jointly on their federal return could net them a break on taxes, but here in Ohio it pushes them into a tax bracket that forces them to pay more than if they filed separate returns.

You May Be Able To Get Tax Benefits To Help Pay For Education

Submitted by Debra Rodway on Thu, 2017-08-31 17:13

It's that time of year again . . . back to school!  This is a good time to learn about tax benefits that can help offset qualifying education costs. Here is information about two tax credits available to those who pay higher education costs for themselves, a spouse or a dependent.

The American Opportunity Tax Credit (AOTC)

The AOTC is worth a maximum benefit up to $2,500 per eligible student. It is only available for the first four years at an eligible educational or vocational school for students pursuing a degree or other recognized education credential. Eligible taxpayers can get up to $1,000 of the credit as a refund, even if they do not owe any tax.

How Divorce or Separation May Affect Your Taxes

Submitted by Debra Rodway on Thu, 2017-08-24 05:34

There are lots of things to consider when divorcing or separating, and it is a difficult time emotionally and financially for most people. Big changes are taking place in your life, and you should be aware of how these changes may affect your taxes.

Here are some things you should know about alimony, child support, IRA's, and name changes:

TAX TIPS: Renting Residential or Vacation Property

Submitted by Debra Rodway on Thu, 2017-07-27 09:24

Are you planning to rent out your residential property or vacation home?  If so, there are many things you need to consider other than the logistics of cleaning, maintenance, and service to the renter.

Receiving money for the use of a dwelling also used as your personal residence generally requires reporting the rental income on your tax return. Certain expenses related to renting your property become deductible to reduce the total amount of rental income that's subject to tax.

more

Tax Tips, Resources & News

Our blog, news feeds, forms, and links to helpful resources are provided to help you find the answers you seek any time of the day or night.

Please call us at 330-779-0781 for assistance.  We're here to guide you through your business and personal accounting, tax questions and obligations.

Contact

DJL Accounting & Consulting Group, Inc.
1570 South Canfield-Niles Road #C102
Youngstown, Ohio 44515 

Phone:  330 779 0781

               

SECURE DOCUMENT UPLOAD

Click here to log in to Sharefile and securely upload your documents.

If you are new to Sharefile and need login credentials, call us at 330 779 0781.