The San Diego Tax Pro

Track the Status of Your Tax Refund and Get Useful Tax Tips for Next Year! | IRS App

If you’re still waiting for your tax refund, the IRS can help you track it with this handy IRS2Go app. The IRS begins tracking your return from the moment it is accepted and transmits the data to this app, so you’ll know the status of your long-awaited tax return at all times.

If you’ve already received your return, you’ll still love IRS2Go. This Android app provides tax tips and updates to make sure you’re maximizing your refund. You can even keep up with the IRS’s Twitter feed.

Count on The San Diego Tax Pro to help you maximize your deductions and get the tax refund you deserve, or call us anytime of the year if you need tax help. To schedule an appointment, call (888) 690-9245 today.

Common Reasons Why Tax Audits are Performed

Every year, the Internal Revenue Service audits approximately 1% of all tax returns it receives. Some tax returns are chosen randomly for an audit, but most are selected based on the results of the Discriminant Function System that scores each return based on the number of “red flags” it presents. Here are some of the most important red flags or reasons for audits:

• Bad Math- Simple mathematical errors are to blame for some audits. If the IRS catches a math mistake, they may think the filer was trying to defraud them. Though this will rarely lead to a full-scale audit by itself, it can add up to an audit when combined with other factors. Please contact your San Diego tax pro if you feel you made a mathematical error with your taxes.
• Round Numbers- Rarely does anyone make exactly $50,000 dollars a year, and the IRS knows it. Too many round numbers make them suspicious of underreported income.
• Large Charitable Deductions- Claiming charitable deductions is great, but the IRS knows how much people in your income bracket generally donate. If you’re claiming a $10,000 deduction when most people claim $2,000, you set off a red flag for an audit.
• High Income- Regardless of other factors, you are more likely to be audited if your income is above $100,000. High-income taxpayers may make mistakes when itemizing deductions; these mistakes are likely to be worth more money than those committed by low-income taxpayers.
• Unusually Low Income- The IRS keeps records of the average income for people in your profession. If your income is significantly below the norm, they may think that you are underreporting income. Similarly, if you’re supporting children on an income that the IRS doesn’t believe is sufficient; your tax return may be red flagged.

Tax audits can be intimidating; but with complete records and a skilled, experienced tax professional on your side, you can come through it without financial consequences. If you’re being audited, or need IRS help near San Diego, please call The San Diego Tax Pro at (888) 690-9245.

Learn More About Tax Breaks and Filing Your Taxes By Exploring Our Resources

Instead of stressing out over the future tax filing deadlines, take a deep breath and check out these links. The links provided here will give you more information about tax breaks for military members, homeowners, and businessmen. Like always, don't hesitate to give us a call!

• Members of the military and their families can really benefit from tax breaks made specifically for them. Check out these 10 tax tips for military members from the IRS.
• Read this article from Reuters to learn about tax breaks for homeowners whose mortgages are underwater.
• File on time and avoid tax audit horror stories like the one this family experienced.
• Check out this comprehensive list of tax forms required for filing from SmartMoney.com.
• Each year brings changes in tax laws and new tax forms. Examine the important tax changes in 2012 by reading this article from MarketWatch.com.

If you need help with the IRS or need to file your taxes properly, consult with The San Diego Tax Pro. With over 30 years of experience, we’re proud to offer our clients the highest possible tax return at the lowest cost. Call us at (888) 690-9245 today.

For Future Reference: Tax Breaks for Members of the U.S. Armed Forces

The government asks a lot of its men and women in uniform, which is why there are a number of tax breaks, credits, and deductions. You may qualify for many of them if you are a service member. Check out the following military tax breaks that could improve your future tax return.

Excluded Income for Service Members in Combat Zones- Certain pay or income you received while serving in a designated combat zone can be excluded from your taxes. Some of these exclusions include:

• Active duty pay received while in combat zone.
• Hostile fire or imminent danger pay.
• Income from a reenlistment bonus.

Uniform Deductions- If the uniform you wear while on-duty is prohibited from being worn off-duty, it’s considered a military-specific uniform. If you had to buy that uniform or have it repaired, you can deduct any unreimbursed uniform expenses from your taxes.

Work-related Education Deductions- Any costs from educational courses required by your employer to keep your job can be deducted. The classes or courses you take have to relate to maintaining or improving the skills needed for the job. In most cases, you can deduct travel expenses related to your education as well.

First-time Homebuyer’s Tax Credits- If you bought your first house in 2010, 2011, or are planning to buy one on or before April 30, 2012, you could qualify for a refundable tax credit of up to $8,000. Eligible members must have served at least 90 days overseas between January 2009 and April 2010 for this military tax credit.

Transportation Deductions- Service members who spent money on work-related transportation can quality for deductions. To be considered, such travel must be from one work-related location to another. Expenses from regular commuting from your home to work aren’t deductable.

Live in San Diego and need Tax Help? Hire The San Diego Tax Pro. Our founder, Terry Smith, served in the military for 36 years and understands how hard service members work to preserve freedom, and the pursuit of happiness. Our tax preparers will work just as hard to ensure you get the most out of your tax return. Call us today at (888)690-9245 for more information.

Disclaimer:

(1) nothing contained in this website was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended; (2) any written statement contained on this website related to any federal tax transaction or matter may not be used by any person to support the promotion or marketing or to recommend any federal tax transaction or matter; and (3) any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this website. No one, without our express written permission, may use any part of this website in promoting, marketing or recommending an arrangement relating to any federal tax matter to one or more taxpayers.

Smart Spending Tips for Tax Returns

The average American’s tax refund is about $3,000 dollars. But before you splurge and treat yourself with an extravagant purchase, consider some smarter ways to use the extra cash.

In this interview with a consumer advisor, you’ll get some tips on paying off high-interest credit card debt and increasing your savings with your tax return. You might want to build up your emergency funds and have something to fall back on if you lose your job or suffer a medical emergency. Take a look at the following smart tax return spending tips. Enjoy this educational video!

You might be getting less than you should from your tax return if you’re not up to date on current tax breaks. If you live in San Diego and need tax help, call The San Diego Tax Pro at (888) 690-9245. 

Disclaimer:

(1) nothing contained in this website was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended; (2) any written statement contained on this website related to any federal tax transaction or matter may not be used by any person to support the promotion or marketing or to recommend any federal tax transaction or matter; and (3) any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this website. No one, without our express written permission, may use any part of this website in promoting, marketing or recommending an arrangement relating to any federal tax matter to one or more taxpayers.