American Tax Service

Helping Americans File Their Taxes

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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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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 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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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 many of them are difficult to find.

What are the Basic Requirements?

The programs offered by the government are limited to things that increase the value of your home.… Read the rest

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What You Need to Know about the New Child Tax Credit

The original child tax credit, known as the CTC, was first introduced back in 1997, before becoming available to claim in 1998. In the beginning, this was a simple nonrefundable credit for $400, which applied to each qualifying child if they were under the age of 17.

child tax credit

There have been many changes over the last 20 years, with qualifying children being worth a tax credit of $2000 per child. This was refundable for taxpayers who had at least $3,000 of earned income.… Read the rest