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IRS Deadline Approaching for Small Non-Profit Organizations

Garfield Heights, OH. – Even small non-profit organizations, such as sports clubs, civic organizations and local associations, are required to file a yearly report with the IRS. By law, the IRS will automatically revoke the federal tax-exempt status of organizations that fail to file annual reports for three consecutive years. Churches and church-related organizations are […]

Are Your Child Care Expenses Deductible?

[Garfield Heights, Ohio] – When trying to cut costs during these hard economic times, it is unlikely that your child care expenses can be reduced. Luckily, there is the credit for child and dependent care expenses offered on your individual tax return. The credit can be up to 35 percent, depending upon your adjusted gross […]

Steven Cook National Association of Tax Professionals (NATP)

Garfield Heights, OH. – Steven Cook at Matrix III Income Tax Service, LLC of Garfield Heights, OH. is affiliated with the National Association of Tax Professionals (NATP).  The NATP is a nonprofit professional association founded in 1979 and is committed to excellence in taxation. Affiliation reflects a mutual commitment to ethical values and dedication to […]

Tax Implications for Self-Employed Consultants

Garfield Heights, Ohio – Picking up a second job to supplement household income in a tough economy is becoming more common. Many Americans are choosing to become consultants that visit homes to sell make-up, jewelry, candles, kitchen utensils and food products. Some may not realize the tax implications of becoming a sole proprietor and what […]

Tax Tips for Military Personnel

Garfield Heights, Ohio – Members of the military and their families may be eligible for special tax benefits. For federal tax purposes, the U.S. Armed Forces include enlisted personnel in all regular and reserve units controlled by the Secretaries of Defense—the Air Force, Army, Coast Guard and Navy. Travel expenses can be deducted if they […]

E-filing Your Tax Return – Simple and Safe

Garfield Heights, Ohio – Not so long ago e-filing taxes wasn’t very common. In 2001, of all the federal tax returns filed, 31% were filed electronically. In nine short years, approximately 70% of all federal tax returns filed in 2010 were done so electronically. Those who don’t e-file are now the exception. Why would almost […]

Avoid Common Tax Return Errors

Avoid Common Tax Return Errors Incorrect Social Security numbers top the list of most frequent mistakes. Garfield Heights, OH. – At the close of each tax filing season, the Internal Revenue Service (IRS) compiles a list of the most common errors taxpayers make when filing their tax returns. Believe it or not, incorrect mathematical calculations […]

Real Estate Property Tax Deduction

A taxpayer is eligible to take an itemized tax deduction for real estate taxes paid during the tax year.  Whether a taxpayer itemizes their tax return deductions or takes the standard deduction depends on which one will give the taxpayer the greatest tax benefit. In order for the taxpayer to be eligible to take the […]

Tax Appointment

Tax Practitioner’s often receive questions about what to bring to a tax appointment.  We like when taxpayers bring their tax documents in early in the season.  Attached is an organizer to give you some ideas of what you will need:  Individual Organizer Tax Pros love to see last years filed tax returns.  There are several elements […]

Use of Last Pay Stub Prohibited

Authorized IRS e-file Providers are prohibited from submitting electronic returns to the IRS prior to the receipt of all Forms W-2, W-2G, and 1099-R from the taxpayer.  The IRS has good reasons to prohibit the use of a taxpayers last pay stub in lieu of the actual W2. Taxpayers are reasonable to expect that their […]