If 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 well as outline the tax changes from the Tax Cuts and Jobs Act of 2018 that will affect your filing as a new home buyer.
Is There a Tax Credit for First Time Home Buyers?
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There are so many free tax filing services online today. The problem is choosing the right one. Not every free tax filing service offers the features and the standard of service you would expect.
You require accuracy in your tax returns, and you need to make sure you’re going to receive the biggest refund possible. Even small mistakes can cost you big time in late filing fees, audits, and the refund you receive.
You need to know what you’re getting from a free online tax filing service.… Read the rest
2020 is coming to an end, and you may be wondering when can you file taxes in 2021?
While you may be looking forward to the holiday season, keep in mind, soon after it ends, tax season officially kicks off.
So, When Does Tax Season Start in 2021?
The Internal Revenue Service has set the opening day for the 2021 filing season as Monday, Jan. 27, 2021. That’s the day the IRS will start accepting and processing 2020 tax year returns.… Read the rest