Brainiac Tax

We are proud to say we are a Virtual Tax Company, where you now can do your taxes right from your office, or the comfort of your own home!

[Brainiac Tax @BrainiacTaxes]

The key, as with anything tax-related, is substantiating that you followed IRS rules.

* Ordinary, necessary expenses
* Getting there
* Timing is everything
* Lodging costs
* Dining out
* Miscellaneous expenses
* Taking family along
* It also works for employees
#taxhelp #taxes

[Brainiac Tax @BrainiacTaxes]

It’s never too late to find ways to legitimately lower your taxes.

Here are three often overlooked ways to reduce your tax burden when you’re charitable or out of work.

1. Deduct volunteer miles
2. Give away old items.
3. Keep track of job search costs.

#lowertaxbill #taxes

[Brainiac Tax @BrainiacTaxes]

There are five types of tax filing statuses:

Head of household, qualified widow(er), married filing jointly, married filing separately and single.

Your tax filing status can have a big effect on your tax bill and which tax forms you’ll need to fill out.

#taxfilingstatus

[Brainiac Tax @BrainiacTaxes]

6 common mistakes to avoid:

1. Make sure you have all your documents before you file.
2. Double-check your credits and deductions
3. Look over your whole return
4. Confirm your filing status
5. Be sure your tax return is signed
6. Check to make sure it was accepted

#taxes

[Brainiac Tax @BrainiacTaxes]

Was renewed and upgraded, allowing consumers to get 30% back for energy-saving renovations, up to $1,200 per year (up from the previous $500 lifetime maximum).

This change applies to projects completed between January 1, 2022 and December 31, 2032.

#energyefficient #taxcredit

[Brainiac Tax @BrainiacTaxes]

*There were no economic impact payments in 2022, so taxpayers won’t get an extra stimulus payment in their 2023 tax refund checks.

*Expanded tax credits and deductions—like the child tax credit and charitable contributions deduction—reverted to their pre-COVID-19 amounts.

[Brainiac Tax @BrainiacTaxes]

What you need to know:

*Tax filing deadline: April 18, 2023

*Extension deadline: October 16, 2023

*Standard deduction increase: For 2022, the standard deduction increased to $12,950 for single filers and $25,900 for married couples filing jointly.

*Tax brackets increase.

[Brainiac Tax @BrainiacTaxes]

Here are some deductions and credits you might be able to claim:

1. Charitable Deductions
2. Medical Deductions
3. Business Deductions
4. Earned Income Tax Credit (EITC)
5. Child Tax Credit
6. Child and Dependent Care Credit
7. Education Credits

#taxtime #taxcredit #taxseason

[Brainiac Tax @BrainiacTaxes]

Here's how to Claim the Mortgage Interest Deduction

1. Choose Standard or Itemized Deductions
2. Get Form 1098 and Other Documents You'll Need
3. Itemize Your Deductions on Schedule A
4. File Your Taxes and Save Your Documentation

#mortgageinterestdeduction #taxes #taxtime

[Brainiac Tax @BrainiacTaxes]

How to Pay A Surprise Tax Bill

*Pay What You Can on Time
*File for a Payment Extension
*Get an IRS Installment Agreement
*Use Your Emergency Fund
*Pay With Your Credit Card
*Borrow Money From Family or Friends

#paytax #payontime #daycareowner #taxbill #childcareowner

[Brainiac Tax @BrainiacTaxes]

Here's a step-by-step to addressing tax identity theft.

1. Contact the IRS
2. File a Report With the FTC and Law Enforcement
3. Notify State and Local Taxing Authorities.
4. Protect Your Credit

#taxes #identitytheft #victimoftaxidentitytheft

[Brainiac Tax @BrainiacTaxes]

If you want to save money but don't want to pay taxes on interest, here's a quick rundown of options to consider:

*Traditional IRA or 401(k)
*Roth IRA or Roth 401(k)
*Health savings account (HSA)
*529 education savings plans

#taxes #savingaccounts #daycareowner #daycaretips

[Brainiac Tax @BrainiacTaxes]

The due date to file your 2023 tax return is April 18.

June 15, 2023
Due Date for Second Estimated Tax Payment for 2023

September 15, 2023
Due Date for Third Estimated Tax Payment for 2023

October 16, 2023
Last Day to File Your 2022 Tax Return With an Extension

#taxdeadline

[Brainiac Tax @BrainiacTaxes]

How to Prevent Tax Refund Theft

1. File early
2. Keep your information secure online
3. Learn how to spot phishing attempts
4. Keep important documents safe
5. Take your time when choosing a tax preparer
6. Watch out for tax scams

#taxes #taxtips #theft #taxtime #daycareowner

[Brainiac Tax @BrainiacTaxes]

“Being someone’s first love may be great, but to be their last is beyond perfect.”

Happy Valentines Day!!

[Brainiac Tax @BrainiacTaxes]

Getting ready for the 2023 tax season?
It's never too soon to start prepping. Here are tips to make filing your return easier in 2023.

[Brainiac Tax @BrainiacTaxes]

Hopefully this month we will be given sustenance and our affairs will be made easier.

Hello February!!

#february #hellofebruary #lovemonth #taxeason #taxtime #daycareowner #businessowner #nickytaxstrategist #daycarespecialist

[Brainiac Tax @BrainiacTaxes]

The differences between state and federal taxes are federal income taxes are collected by the federal government to pay their bills and state taxes are collected by individual state governments to pay their specific state bills.

Not every state has a state income tax;

[Brainiac Tax @BrainiacTaxes]

If you paid a tax preparer to prepare and file your tax return, the tax return should have their information, and their signature, and should not say SELF-PREPARED in the paid preparer section of your 1040 form.

#ghostpreparer

[Brainiac Tax @BrainiacTaxes]

It's Finally Tax Season!

Here is my free consultation link book your spot today
https://t.co/RHUBOs1g1R

#taxseason #taxtime #taxes #tax #childcare #daycareowner #childcare