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Tax

To Win at the Tax Game, Know the Rules – NY Times

Before you visit your tax preparer... Take a look at your 2013 Federal form 1040. The New York Times just published an interactive article that points out, line by line, the possible tax savings ideas that you should have used on your 2013 tax return. Did your tax preparer take advantage of these for you? At WellFit Financial, we are a CPA firm, but we don't prepare income tax returns. We DO offer you a second...
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Use your tax refund to fund your 2014 IRA contributions

Did you know that you can use your income tax refund from your 2014 Form 1040 to make your 2014 IRA contributions? Yes, that's right...last year's IRA contribution! Simply file your return early and include IRS Form 8888 to have your refund go directly into your IRA at your brokerage, mutual fund or bank account. It is that easy. You won't see any check; the transaction is more secure. If you have questions ab...
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Preparing your own income tax returns? Obama Care reporting you must do!

Recently, the IRS released a new taxpayer guide explaining all of the complex issues that you may have to deal with regarding compliance with the Affordable Care Act (Obama Care) when preparing your own 2014 income tax returns (using TurboTax and Tax Cut, for example). I would recommend looking at this guide before you complete your tax returns, especially if you received a form 1095-A.  Your 2014 income tax returns...
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