Married couples do enjoy certain advantages when it comes to federal income taxes. The exemptions and deductions are often more, which greatly lowers the taxable income they have. The first tax year afterward may cause some shocking revelations when Massachusetts...
It can be challenging for Massachusetts residents to know what credits and deductions they can and cannot take at tax time. One credit that the IRS says many people are missing out on is the earned income tax credit. The agency estimates that one out of every five who...
Between now and April 15, many people here in Boston and across the country will fill out forms intended to go to the IRS. In an attempt not to pay more in taxes than necessary, they will search for the best and most deductions and credits they can use to reduce their...
United States taxpayers with foreign accounts should know the Internal Revenue Service (IRS) generally expects taxpayers to report foreign assets. There are rules dictating which assets the government requires the taxpayer to report and, in most cases, expects the...
As many Boston residents start preparing their tax returns, finding out they owe money may come as a surprise. Preparing their returns now could give them the time to save up the money owed, but then again, it may not. Many taxpayers' budgets are stretched enough...
