Update: The IRS has announced that the tax season will begin January 28, 2019 to start filing your 2018 tax returns!
Did you try calling the IRS?
Many taxpayers are confused as to how the government shutdown will affect the 2019 tax season. If you pick up the phone and contact the IRS, you’ll receive a short message instead of the typical menu. “Welcome to the IRS. Live telephone assistance is not available at this time. Normal operations will resume as soon as possible,” is what you hear when you call their toll free number.
Overall, this means that all IRS offices are closed because of the government shutdown. Read on to find out what you need to know for this tax season.
First off, what does “government shutdown” mean?
Continue reading “How the government shutdown affects your taxes.”
What’s yours is mine and mine is… Uncle Sam’s?!
One of the ultimate goals in society today is to eventually own something. Unfortunately, the whole American Dream notion tends to be accompanied by a few undesirables; one of which is property taxes. Depending on your budgeting skills and your own aspirations, you could end up paying taxes on one or any of the following:
- Vacation home
- Rental property
The list goes on and on. With our end goal of home ownership in mind, we should fully realize all of the additional expenses that come along with it. Property taxes are one of those major expenses. Ringing any bells? If so, we’ve got some good news for you. Although you can’t technically nix paying taxes on your property altogether, you may qualify for a tax deduction, thanks to Uncle Sam.
Which property taxes qualify for the write-off?
Continue reading “Property Taxes 101: How to Claim a Tax Deduction”