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Tax Tip Videos

updated 11/27/16

Tax Planning & Developing Tax Strategies

In order to pay the least amount of income taxes legally possible, you must assess your situation before the current tax year is over.

Health insurance requirements

You are required to maintain health insurance coverage for you & your dependents. Penalties will be added to your income tax return in most cases for failure to maintain proper coverage. This video will give you a quick overview of the forms which you might receive re: your health insurance coverage, however contrary to what the video states it is important to give any of these you receive to your tax preparer since they are used to determine if a penalty applies & the amount if there is one.

Track your tax refunds

You can track the status of both your IRS & CA FTB income tax refunds using the links below. This video explains the IRS refund refund status process.

Education credits & deductions

You may be eligible for tax credits or tax deductions for tuition & other related costs if you or your dependent is a college student. This video gives a brief overview of some of the tax breaks available include the following:.

  • American Opportunity Credit
  • Lifetime Learning Credit
  • Student loan interest deduction

Amended returns

We review all prior year tax returns for new clients to determine if any important deductions which you were entitled to were missed. If you are within the 3 year statute of limitations, you can still file an amended return & receive a refund. Some of the common scenarios requiring an amended return are:.

  • Missed deductions
  • Missed tax credits
  • Received a late 1099