Best Atlanta Tax Accountant Free Report

by admin on May 13, 2010

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Get our new free report on how to find and hire the best Atlanta Tax Accountant.  Go to www.bestatlantataxaccountant.com

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Earned Income Tax Credit

by admin on November 12, 2009

You may qualify for the Earned Income Tax Credit, or EITC, if you worked last year, but did not earn a lot of money.

EITC is a refundable tax credit meaning you could qualify for a tax refund even if you did not have federal income tax withheld.

To qualify for the credit, you must:

• Have a valid Social Security Number (if you are filing a joint return, your spouse also must have a valid Social Security Number)
• Have earned income from employment or from self-employment
• Have a filing status other than married, filing separately
• Be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return
• Not be a qualifying child of another person (if you are filing a joint return, your spouse also can not be a qualifying person)
• Not have investment income over a certain amount
• Not file Form 2555 or 2555-EZ (related to foreign earned income), and
• Have a qualifying child OR:

o be age 25 but under 65 at the end of the year
o live in the United States for more than half the year, and
o not qualify as a dependent of another person

If you qualify, the amount of your EITC will depend on whether you have children, the number of children you have, and the amount of your wages and income last year.

For more information or to see if you qualify, please call us at 770-956-1717 or fill out the form below.

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Amended Tax Returns

November 11, 2009

If you discover an error after your return has been mailed, you may need to amend your return. The IRS may correct errors in math on a return and may accept returns with certain forms or schedules left out. In these instances, do not amend your return! However, do file an amended return if your [...]

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The IRS Collection Process

November 11, 2009

Getting a tax notice from the IRS is not a matter to take lightly.  If you cannot pay in full, you should send in as much as you can with the notice. The unpaid balance is subject to interest compounded daily and a monthly late payment penalty. It is in your best interest to [...]

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Copy of Your Tax Return – How to Get One

November 10, 2009

If you need an exact copy of a previously filed and processed tax return and all attachments (including Form W-2), you should complete Form 4506 (PDF), Request for Copy of Tax Return, and mail it to the address listed in the instructions, along with a $57.00 fee for each tax year requested. The check or money order [...]

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What to Do if You Haven’t Filed Your Tax Return

November 10, 2009

You may not have filed your federal income tax return for this year or previous years. Regardless of your reason for not filing, file your tax return as soon as possible. If you need help, Greenwald & Company, P.C. is ready to assist you.
If you are not sure you are required to file a return, [...]

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What is tax accounting?

August 14, 2009

Tax accounting is accounting for tax purposes. In the United States, tax accounting is governed by the Internal Revenue Code (IRC). Tax accounting is defined as the field of accounting that considers the tax consequences and implications of every transaction upon the company’s operations. Tax accounting is a method of producing financial statements [...]

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What is a Certified Public Accountant (CPA)?

August 13, 2009

A certified public accountant is a person engaged in the practice of public accounting. Also known as a CPA, a certified public accountant is essentially a licensed accountant who has completed a certain level of accreditation and requirements. A certified public accountant is a title given to accountants in the United States who have sat [...]

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Offer In Compromise

August 10, 2009

When you hear about “settling for pennies on the dollar” an offer in compromise is how it is done. An offer in compromise is becoming a more common way for taxpayers to settle their back taxes.  An offer in compromise is a good program for many taxpayers with tax problems.  An offer in compromise is [...]

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Capital Gain Tax – An Overview

August 3, 2009

Assets fluctuate in value all the time, and as their prices change, capital gains and losses accumulate. Income produced as a result of the sale of a capital asset must be reported on your income taxes as a capital gain. The amount of the reported capital gains depends on how long you have held the [...]

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