Who Can I Claim as a Dependent?

These days, claiming dependents when filing your taxes no longer gives you a personal exemption. It does, however, play a role in determining your standard deduction. So who can you claim? Our tax experts near Sacramento can help you choose the right options, no matter where you're located. As the name suggests, a dependent is [...]

2019-01-14T19:14:14+00:00 January 14th, 2019|

What Allowances Should You Claim on Your Paycheck?

In an ideal situation, you shouldn't run into too many surprises when filing your taxes. If your W-4 form is filled out properly, it should achieve the goal of keeping the taxes that are withheld from your paycheck in line with what you actually owe in taxes. When it doesn't, you can expect either a [...]

2019-01-07T19:44:07+00:00 January 7th, 2019|

What Are the Benefits of Filing Taxes Early?

As 2019 begins, you can expect to start receiving tax-related documentation from your employer, bank, and other organizations for 2018 soon. In most cases, these documents are required to be sent out by the end of January. With your annual tax return due in April, that leaves you with a few months to get things [...]

2019-01-02T16:28:17+00:00 January 2nd, 2019|

What’s the Difference Between an Exemption, a Credit and a Deduction?

Paying taxes is simply one of life's constants, as they say, and it's something everyone simply has to do. Of course, no one wants to pay more than they have to on their taxes, and filing correctly ensures that you get to keep all of the money you're legally entitled to–that's where our tax help [...]

2018-12-28T20:11:21+00:00 December 28th, 2018|

What to Do if Taxes Are Not Being Withheld

For most folks, having taxes–and other necessary payments like unemployment and Social Security–taken out of paychecks is just part of life. Ideally, the amount taken out will be close to what it should be and any refunds or taxes due at year’s end will be minimal. If you’re not having taxes withheld by your employer, [...]

2018-12-27T16:06:51+00:00 December 27th, 2018|

What is the Health Insurance Penalty for 2018?

The team at our Sacramento area company is committed to helping you prepare your 2018 taxes properly, regardless of where you’re located. There are a lot of question that we encounter with a degree of frequency, and we’re always happy to shed some light on things to help you avoid surprises when filing. A common [...]

2018-12-05T16:59:46+00:00 December 5th, 2018|

How Long Do You Need to Keep Tax Records?

Whether you fill out your taxes digitally or with a pen and paper, your records are going to take up a bit of space. Combined with supplementary forms, worksheets, receipts, and supporting documents, your tax returns comprise some substantial paperwork. It can be tempting to clear things out, but rushing to toss your old returns [...]

2018-12-04T14:53:38+00:00 December 4th, 2018|
Paramount Tax Relief

Paramount Tax Relief