-
Turbo Tax and Do-It-Yourself VS. Professional Tax Preparer
- Feb 03, 2015
- By Dukhon Tax
- In Tax Tips
Tax time brings a multitude of financial decisions, including whether to hire a tax professional or prepare your own taxes using software like TurboTax. While the low cost and advertised ease of do-it-yourself tax products may be tempting, they aren’t always what they claim to be. In fact, many tax filers find them frustrating and time consuming with very little…
-
Reporting Your Affordable Care Act (“ObamaCare”) 2014 Taxes
- Jan 19, 2015
- By Dukhon Tax
- In Affordable Care Act, Tax Tips
Confused by the tax filing requirements under the Affordable Care Act (ACA)? You are not alone. Filers for 2014 must report healthcare coverage on form 1040 in the taxes section on page 2.
-
Strategies for Avoiding or Reducing the new 3.8% Net Investment Income Tax
- Dec 07, 2013
- By Dukhon Tax
- In Tax Tips
Dukhon Tax shares strategies for Avoiding or Reducing the new 3.8% Net Investment Income Tax As of the beginning of 2013, new Code section 1411 imposes an additional tax of 3.8% on unearned net investment income. The so-called “Net Investment Tax” or “NIT” kicks in after certain thresholds effectively pushing up the top marginal tax rate for individuals, trusts, and…