Susan Tompor Detroit Free Press Published 7:00 AM EDT Apr 11, 2019 The tax deadline — Monday April 15 — is right around the corner. But this year, you have a bit more company if you find that you've dragged things out into April. Plenty of people admit they've been scared to file their tax returns, not knowing whether they'd owe money or not under the new Tax Cuts and Jobs Act. We've heard the horror stories about smaller than expected tax refunds. And yes, some sad stories of people owing thousands when they didn't expect it. The Internal Revenue Service expects to receive an astounding 14.6 million requests for filing extensions before the tax season deadline. That's nearly one in 10 tax filers. So far through March 29, nearly 93 million taxpayers have filed individual tax returns, based on the latest data from the IRS. That's down 1.4% from a year ago. About $206 billion in total refunds had been issued through March … [Read more...] about Last-minute tax filers: We’ve got you covered
Help with tax return for self employed
Susan Tompor Detroit Free Press Published 9:40 AM EST Feb 25, 2019 Every year, Steve Courtney holds a tax party of sorts. His accountant comes to his home in Livonia to prepare tax returns for a bunch of the family, including his brother, his mother, himself. "We've been doing it for years," said Courtney, 58, who is the sports director at WJR Radio in Detroit. "In the past, it's been a bit more festive." Not so this year, as taxpayers sitting in kitchens and offices across the country are discovering the implications of the new tax rules, the extra cash in their paychecks in 2018 and the realities of tax life itself. "My refund is one third of what I'm used to," Courtney said. "My brother has never owed in his adult life and, oh, he owes this year." Instead of his usual refund, his brother discovered he'll be writing a check, not waiting for a refund. Why are so many surprised at the bottom line on their 1040 returns? What factors are coming into … [Read more...] about Smaller tax refund? Here’s 4 possible explanations
Maybe a withdrawal agreement maintaining European citizens rights will be struck. Maybe Britain will crash out of the EU and chaos will ensure. Maybe, Brexit will be cancelled all together. We can't predict the future but we can help you be best prepared for whatever comes next. Here's our 12-point check list: 1. Make sure that you’re legally resident in your host country. This is the ONE thing that all Brits living in Spain should make sure they do and has been repeated incessantly by British Embassy and consular staff in the run up to Brexit. This will provide evidence the date of your arrival in your host country and provides proof that you were legally resident on March 29th 2019, when Britain exits the EU. This will streamline the process when it comes to applying for whatever residency arrangement is decided after Brexit, whether there is a Withdrawal Agreement or dreaded No Deal. READ MORE: This is the ONE thing Brits in Spain need to do ahead of Brexit f … [Read more...] about The ultimate No-Deal Brexit checklist for Brits in Spain
Susan Tompor and Janna Herron Detroit Free Press Published 6:00 AM EST Jan 25, 2019 Sitting down to do your taxes in the next few weeks — or talking with your tax preparer — will involve tackling the most sweeping changes in the federal income tax rules in more than 30 years. Tax filers need to keep in mind that more than 600 changes took place under the Tax Cuts and Jobs Act, which was passed by Congress in late 2017. All those changes even drove some industry experts to raise concerns early on about possible delays to the typical late January start of the tax season — and that was long before the federal government shutdown hit on Dec. 22. Even so, the Internal Revenue Service promises to kick off tax season as of Jan. 28, the earliest date you can file your returns. Will things end up being simpler? Maybe, if you’re able to tap into a substantially expanded standard deduction and you no longer must string together all sorts of receipts … [Read more...] about When to file your taxes and what new rules to expect
This article is available to Members of The Local. Read more Membership Exclusives here. In 2010, cross-cultural couples – or those involving a native Swede and a foreigner – made up nine percent of all married couples in Sweden. And according to a survey of expats in Sweden by Internations, more foreigners relocate to Sweden to be with their partner than for any other reason: 25 percent of those who responded said they moved to the country for love. This group faces unique challenges, from where to spend Christmas to which language to use with their children, while the partner who relocates must adjust to an entirely new culture, often leaving behind a job, family and friends. So what about the people who uproot their lives for a relationship which later ends? It's not an uncommon situation; the divorce rate among cross-cultural couples is significantly higher than that of both native couples and those where both partners come from the same foreign country, yet … [Read more...] about What happens when you move across the world for love, then break up?