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Tax Preparation

Extending your filing by three days, or six months

Attention, all frantic people desperate for some good tax-return news: You have come to the right place. We are pleased to inform you that you get three extra days to file your return this year, thanks to something called Emancipation Day on the East Coast.

Colorado tax collectors giveth, taketh away

Residents may be surprised — pleasantly or otherwise — at some new items and requirements on the 2015 Colorado income tax returns. Specifically, Colorado taxpayers are likely to receive a relatively modest TABOR refund for the first time in 10 years. That’s the good news, from an individual perspective. The bad news is, Colorado now requires residents to pay a retroactive tax on Internet purchases.

Goods that are donated must truly be good

Everybody wins when you rid your house of unwanted items, donate them to charity and then deduct the value on your income tax return. But the Internal Revenue Service wants to make sure you don’t benefit unfairly.

How to tell if your tax pro is right for you

If you are one of the 55 percent of individuals who file tax returns via a paid professional, this might be a good time to decide whether that person is meeting your needs and earning his or her fee.

Simple solutions for tax complexities

Every year, somebody in Washington mentions that it might be a good idea to simplify the federal tax laws, and every year — oops! — this great idea falls through the cracks. And 2015 seemed like such a good opportunity.

Instead, we regret to inform you, the tax code that you will apply to your 2015 tax return (if you haven’t already) is probably more complex than ever before, with changes in relation to foreign earned income, child tax credits, credits for qualified tuition, and even the rules surrounding those pesky Form 1099s.

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