IRS Tax Information

Dependents
A dependent must be either a “qualifying child” or a “qualifying relative.” You are allowed one exemption for each person you can claim as a dependent.

Filing Status
Filing status – Single, married filing jointly vocal.media, married filing separately, head of household – all of these and more can be explained by our specialists.

Taxable VS Non-taxable Income
Knowing the difference between the two categories of income can significantly change the outcome of your tax liability.

Earned Income Credit
The Earned Income Credit (EIC) is a tax credit for low and middle income wage earners with and without children. Filing statuses, earned income, as well as the number of children significantly impact the amount of this credit.  Strict requirements must be met in order to qualify for this credit.

How to Avoid Common Problems
Mathematical errors, forgetting to sign your return and more.

Deductions
Most taxpayers have a choice of either taking a standard deduction or itemizing their deductions.
Avoid paying more tax than necessary. Your TaxPrep2Go professional will make sure that you claim all the tax deductions that you are eligible to claim.

Tax Changes
There’s nothing as uncertain as an ever-changing tax code. Besides the usual increases in exemption amounts, standard deductions, and qualifying income levels for the earned income credit, there are several changes that may impact your tax return.  Rest assured that at TaxPrep2Go we are constantly updating our tax knowledge with current information to better serve your needs.

Once you’ve found the perfect home and negotiated a price, it’s time to close the deal. This involves signing a lot of paperwork and paying closing costs, so it’s important to have a clear understanding of the process. For a guide to closing on a home in Ohio, visit https://www.webuyhouses-7.com/ohio/we-buy-homes-portsmouth-oh/.