Tag: irs forms

Deductions vs. Exemptions: How Are They Different? How Do They Help You?

Deductions vs. Exemptions: How Are They Different? How Do They Help You?

| December 20, 2012

Both deductions and exemptions reduce the amount of income that is subject to taxes. Should you take a standard deduction or itemize?

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Which 2012 Federal Tax Forms Do I Need?

Which 2012 Federal Tax Forms Do I Need?

| December 20, 2012

There are three basic federal tax forms: 1040, 1040A and 1040EZ, which will be released for 2012 once IRS completes its revisions.

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What Tax Changes Can I Expect in 2012?

What Tax Changes Can I Expect in 2012?

| December 20, 2012

Many of the changes are adjustments to take into account inflation. Expect a small bump up in the amount you can deduct for standard deductions.

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Which States Have an Income Tax? Here’s the List

Which States Have an Income Tax? Here’s the List

| December 20, 2012

Find out which states tax individual income and which do not. Learn difference between Flat Income Tax and Range Income Tax.

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