American Tax Service

Helping Americans File Their Taxes

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What is the IRS Mileage Rate Tax Deduction?

Under current IRS rules, you can deduct a certain amount in mileage rates if you are using your vehicle for business reasons. Every year, the IRS publishes a list of the current standard mileage rates and the amount you can deduct on your taxes.

Let’s look at the standard mileage reimbursement rate and the types … Read the rest

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New Homeowners Tax Credit

homeowner tax creditsIf you recently purchased or built a new home, you might be wondering what tax incentives are available and if there is a new homeowners tax credit.

While there is not a direct tax credit available for buying your home, there are tax advantages to homeownership.

This article will summarize some of these benefits as … Read the rest

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Is it Possible to Deduct Mortgage Interest?

The Tax Cuts and Jobs Act (TCJA) completely changed the US tax system. The last such change of this magnitude happened more than thirty years ago. Millions of Americans are now left wondering what they’re entitled to and which deductions are still valid.

One of the most widely taken deductions is the deduction for mortgage … Read the rest

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Deducting (PMI) Private Mortgage Insurance

Homeowners are usually well informed about the home-related tax deductions that they can make at filing time. However, when purchasing a home, other costs can quickly accumulate. For buyers who can’t come up with a 20% down payment on the purchase price, they will have the added cost of private mortgage insurance (PMI).

The … Read the rest

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Federal Income Tax Brackets Chart

Every year Federal tax brackets chart tends to change. With the new changes to the tax code, under the Tax Cuts and Jobs Act (TCJA), it’s more important than ever to determine which Federal tax bracket you fall into. It could influence how much you pay by thousands of dollars.

IRS Federal Income Brackets Chart

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The New H&R Block Tax Refund Calculator

As the year ends, many folks are starting to look at their taxes and assess how much money they might be getting back in their tax refund. H&R Block has a great refund calculator available online for free that we highly recommend.

Given that this tool comes in so handy, we wanted to breakdown the … Read the rest

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Earned Income Tax Credit & Credit Table

Although an incredible number of families currently claim this valuable tax break, the IRS says many more qualify for this refundable tax credit yet neglect to take advantage of it.

EItC Earned income credit table

The guidelines for (EIC) Earned Income Credit Table were recently increased; therefore, many more families meet the requirements and can claim the earned income credit.Read the rest

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Who Can Qualify for The Earned Income Credit?

The Earned Income Tax Credit (or “EITC” for short) is an excellent option for low-income families and individual filers to utilize for a larger return and overall cash back from the government when you file your taxes. While fairly straight-forward to understand, many tax filers do no understand how the EITC works, and if they … Read the rest

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Try H&R Block to Calculate Your Tax Refund Amount

If you are wondering how much of a Federal tax refund you will get, it’s possible to estimate the amount of your refund with the H&R Block Tax Refund Calculator.

By entering in your income and answering a few simple questions, you can have a good idea of how much you’ll get back from the … Read the rest

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Capital Gains and Your Home Sale

Capital gains on home and real estateAre you wondering if you’ll have to pay capital gains tax on your home sale?

What many people do not know is that a large portion of homeowners who sell their homes can do so without paying the IRS a penny.

Capital Gains on Home Sale

When selling your primary home, you can make up … Read the rest

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Federal Remodel Incentive Programs and Tax Relief Options

Federal home remodel incentives

Do you want to get a refund the next time you remodel your home?

There is a variety of different local, state, and Federal remodel incentive programs that can help you improve the value of your home.

There is also a range of tax relief options and low-interest loans you can take advantage of, but … Read the rest

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Child and Dependent Care Tax Credit 

dependent and child care tax creditWhen you have young children, one of the most difficult financial burdens is paying for dependent care, but some good news is that there are some relief options when it comes time to file your taxes.

The child and dependent care tax credit is available for almost anyone who has a dependent and is working.… Read the rest

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New Tax Credits and Deductions

Do you want to reduce your tax bill this year? You can maximize your tax savings by checking to see if you’re eligible to claim any of the new expanded tax credits.

The difference between a tax credit and a deduction is a deduction reduces your taxable income, whereas credits reduce the amount of tax … Read the rest

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Dependents – The Tax Deductions They Bring

Kids can be stressful at times, but the good news is they can save your butt during tax time. Today we are sharing some of the tax benefits that kids and other dependents bring to you.

Dependency Exemption

dependent tax deductionsEach child and dependent can bring you a deduction of $4050. This means that the income that … Read the rest

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Which Home Improvements are Tax Deductible?

home owner tax deductionsAre you looking to renovate your home? Usually, you can’t expect to deduct anything from your Federal tax return just because you decided to make changes to your home.

But certain home-improvements are tax deductible and can be utilized to reduce the amount of tax you pay to Uncle Sam.

There are both tax credits … Read the rest

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How to Determine Which Medical Expenses are Tax Deductible

Even if you have the best insurance plan, you still might end up paying medical bills. However, all hope is not lost. You can still get a tax break from your medical expenses that can help reduce your overall medical costs.

medical expense tax deduction

In 2018, the IRS allowed you to deduct medical expenses that exceeded 7.5% of … Read the rest

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H&R Block Emerald Refund Advance Loan

Do you believe that you’ll receive a tax refund this year?

You might have heard that to stop tax fraud, refunds are going to be held longer. This applies especially to the Earned Income Tax Credit (EITC).

But with H&R Block, you can get the money you need right now.

What is a

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9 Homeowner Tax Credits and Deductions

Every new homeowner or buyer wants to know about the tax deductions they can claim. Did you know that your home offers a range of tax benefits?

This is the guide you need to read because the new Tax Cuts and Jobs Act (TCJA) has changed some of the tax breaks you have as a … Read the rest

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What You Need to Know About Tax Credits for Electric Vehicles

Electric vehicle tax credits can be highly valuable, but there are a lot of confusing rules regarding how they work. This guide is going to show you what you need to know about tax electric carcredits on plug-in electric vehicles. It will also answer some of the most common questions people have.

How Much are Electric

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How To Find My W2 Form Online With H&R Block

See below how the H&R Block w2 form Early Access finder allows you to get your W-2 online.

What is the W2 Finder?

h&r block w2 form early access siteH&R Block’s W-2 Finder is one of the tools you can use to get your W2 form online and file your taxes fast. And that ultimately means receiving your refund faster as … Read the rest