When you are filing taxes, one of the biggest decisions you have to make is about your filing status. Most people are unsure whether they should file as head of household (HOH) or if they qualify for married filing jointly (MFJ) status. Each has its own tax benefits, tax rate differences, and eligibility requirements, and […]
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Losing a spouse is one of life’s most challenging times, and the last thing on your mind is taxes. However, the IRS understands the financial impact on your family with this loss and offers a qualifying surviving spouse filing status to ease your tax burden. In this guide, we will help grieving families understand the
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When it’s time to file taxes, one of the first decisions married couples make is whether they should choose married filing separately (MFS) or married filing jointly (MFJ). Each couple has its unique financial situation, and choosing wisely not only helps you file your taxes but also reduces your tax liability. Most couples choose to
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Tax season can be stressful, especially when you have a short time, missing document forms, or unexpected issues. Thankfully, both individuals and corporations can apply for a file tax extension with the IRS, which gives you extra time to carefully prepare your return and stay out of trouble. At HM Tax Group, we have the
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Tax deduction at source, also called “withholding tax” or TDS, means you, As a business owner, withhold a certain amount from the payment you make to your employees, vendors or contractors. If you are running a business in Dallas, TX; This is something you can’t afford to ignore. Whether you are a startup, or small
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Texas is in love with great things, great barbecue, great hats, and yes, great questions concerning taxes! Whether you have a burning question about Texas sales tax while shopping or run your business in this state, it’s not uncommon to wonder, Does Texas have sales tax? Learning about the topic of sales tax as it
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The excitement of starting a business has wild ride quality and a maze of paperwork and regulations that make up taxes. If you just formed a Limited Liability Company (LLC) with the intent to file your taxes for the first time, it’s natural to wonder what will be ahead. The good news? It is very
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Tax filing is a very difficult task if the tax laws are evolving and your financial circumstances become increasingly complex. Taxpayers across the country make avoidable mistakes every year that can result in delays, penalties, or audits. The top 10 tax mistakes to avoid this filing season are the subject of this blog, as we
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Many tax payers are not aware that they must file Form 8858 and that failing to do so might result in harsh financial penalties. Both experts and individuals without specialized knowledge in this area may find international taxes to be quite perplexing. Form 8858, titled “Information Return of U.S. Persons With Respect to Foreign Disregarded
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When filing taxes, it is crucial to know the deadline so you can avoid any penalties on yourself or your company. The deadline for filing federal income tax forms is April 15th and it is also the last date for requesting an extension. However, it is important to keep many other things in mind while
What Is The Deadline For Filing Federal Income Tax Forms? Read More »