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  • Services
    • Tax Preparation
    • Home Loans
    • Personal Finance Coaching
  • About Us
    • Meet Chad
    • Meet Emilie
    • Chad's Story
  • Client Resources
    • Tax Resources
    • Home Loan Resources
    • Financial Coaching Resources
  • E-News
  • Client Reviews
  • Contact Us
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Tax FAQ's

Making Finances Simple. Changing Lives.
​​​This page was created to give you answers to common tax questions we receive. Contact us if we can help clarify anything!
withholdings / tax rates
  1. ​How do I ensure accurate pay withholdings?
  2. How does changing jobs or having multiple employers affect my withholdings?
  3. How can I still owe if I claim “0” on my W4?
  4. Will contributing more to our 401k help us not owe with our tax return filing?​
  5. Do I need to make estimated tax payments?
  6. Are my work bonuses & commissions really taxed at a higher rate?​
  7. How are my taxes affected by receiving a lump sum of income?
  8. Do I have to pay payroll taxes for my cleaning person, nanny, gardener, pet sitter, or home nurse?​
  9. What is my tax rate?
deductions / credits
​
  1. What are the differences between tax credits and tax deductions?
  2. Should I utilize my employer's flex account, or take the child care credit?
  3. Should I participate in my employer's flex spending account for medical expenses?
  4. How can a health savings account help me?​
  5. How do I value and keep records for my property donations? (Goodwill, etc.) 
  6. How does the premium tax credit work?
  7. Are renovations/improvements made to my primary home tax deductible?​
  8. ​Can I deduct employee-related business expenses?
  9. How do I get a tax deduction for donating a vehicle?
  10. Are my gambling losses tax deductible?
  11. Should I take the standard deduction? Or should I itemize deductions?
  12. Should I track medical expenses for tax purposes?
  13. When can I deduct moving expenses?
  14. Is my car registration fee deductible on my tax return?
  15. ​Are there any tax deductions for my motor home, boat, or travel trailer?
  16. ​How does the electric vehicle tax credit work?
  17. ​How does the solar tax credit work?
business-related
  1. What tax & financial tips should I know for my business?
  2. How do I determine what is considered a business expense, verses a personal expense?
  3. What are "self-employment" taxes?
  4. When are work "uniforms" tax deductible?
  5. Can I deduct expenses for a vehicle I use in my business?
  6. What are direct vs. indirect expenses for a home office?
  7. How do I deduct shared business and personal use expenses, like cell phone and internet?
  8. What is depreciation for business assets?
  9. My business is currently structured as a sole proprietorship, should I incorporate?
miscellaneous
  1. ​How long should I keep various tax records?
  2. I'm married...should I file joint, or separate?
  3. Is there an age limit on claiming a dependent?
  4. Why is my state refund taxable?
  5. Are unemployment benefits taxable?
  6. ​Is disability income taxable?
  7. Is social security income taxable?​​
  8. Is my settlement taxable?
  9. Will I have to pay taxes on my inheritance?
  10. Why did I get a notice about additional taxes owed after filing my return and paying the taxes due?
  11. ​When does the IRS charge interest/penalties and how are the amounts calculated?
  12. Is it the IRS, or a scam?
  13. What do I do if I receive a letter from the IRS?
  14. ​How does the 2018 Tax Reform affect me?​

View our other FAQ Pages:
  • ​Home Loan FAQ's
  • ​Personal Finance FAQ's

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Meridian, ID
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