American Tax Service

Helping Americans File Their Taxes

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What is Capital Gains Tax on Your Home Sale?

What is the capital gains tax rate on homes and real estate?Are you wondering if you’ll have to pay capital gains tax on your home sale?

Many people do not know that a large portion of homeowners who sell their homes can avoid capital gains tax on their home sales.

How Much is Capital Gains Tax on the Sale of a Home?

When selling your primary home, you can make up to $250,000 in profit or double that if you are married, and you won’t owe anything for capital gains. The only time you will have to pay capital gains tax on a home sale is if you are over the limit.… Read the rest

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What Happens if I Cash Out My 401K?

Planning for your retirement is essential. Most people receive a retirement benefit and advice when they join a large company, but even the most stable working conditions can change. Unexpected costs can tempt you to put your retirement savings on hold in favor of access to quick cash.

401 K retirement planCashing out of your 401k is an incredibly risky choice that should only be made under extreme circumstances.

Whether you’re approaching retirement or simply changing jobs, you have probably considered cashing out your 401(k).… Read the rest

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What Does H&R Block Tax Filing Cost?

Preparing and filing your taxes can be stressful and intimidating. However, many different companies can help you with the process.

H&R Block tax filing pricesH&R Block is one such tax company that provides you with all the tools and services necessary to help you file your taxes on your own.

But what about the cost of filing your taxes?

How Much Does H&R Block Cost?

Doing your taxes yourself will save you money in most instances.

For example, H&R Block allows its clients to complete their own taxes online and offers a 35% discount for doing so.… Read the rest

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When Can You File Taxes?

filing taxes online

2021 is coming to an end, and you may be wondering when you can file taxes in 2022?

While you may be looking forward to the holiday season, keep in mind that tax season officially kicks off soon after it ends.

So, When Does Tax Season Start in 2022

The Internal Revenue Service has set the opening day for the 2021, 2022 filing season as Monday, Jan. 24, 2022. That’s when the IRS will start accepting and processing 2021 tax year returns.… Read the rest