Category Archives: Tax Forms

Understanding the Gift Tax and Form 709

Understanding the gift tax is important for people who plan on giving away large amounts of money. In certain situations, people will need to file Form 709, but may not actually owe any gift tax when they make a gift to someone. To properly understand the gift tax, it is essential to understand the gift… Read More »

Self-Employed Paying 0.9% Additional Medicare tax

Beginning in 2013, a 0.9% additional Medicare tax is imposed on higher-income earning individuals. This additional medicare tax also has an effect on people who earn self-employment income. On Nov. 26, 2013, the IRS issued final regulations (TD 9645) implementing the Additional Medicare Tax as added by the Affordable Care Act (ACA). In all future tax… Read More »

ObamaCare ACA Tax Penalty in 2015

The Affordable Care Act (ACA) often referred to as ObamaCare is a large reform. Many Americans are now able to receive access to health insurance due to the ACA. However, with the enactment of the ObamaCare laws, there could be potential tax benefits   ObamaCare ACA Tax Penalty in 2015 The Affordable Care Act (ACA)… Read More »

Commonly Accepted IRS forms with eFile

The following forms are commonly accepted with many eFile Tax Providers: Form 1040 Standard Individual Income Tax Return 1040 (Schedule A) Itemized Deductions 1040 (Schedule B) Interest and Ordinary Dividends 1040 (Schedule C) Profit or Loss From Business (Sole Proprietorship) 1040 (Schedule C-EZ) Net Profit From Business (Sole Proprietorship) 1040 (Schedule D) Capital Gains and… Read More »