The TaxCred Academy

Did you know? The gain on the sale of a personal residence up to $250K(500K if married filing jointly) is excluded from taxable income. What does this mean? If you sell your home (primary residence) and make a profit of $250,000 you do NOT have to report that income. It is not taxable and one of the great social goals that the IRS provides. From a social standpoint, this helps a family afford a new home, or pay for kids college tuition. Patrice L Stewart "The Tax Daugher" www.patricelstewart.com

Everyone Can't be in your front row Submitted by:  Sonia ~ Scrapbookin Mama Author: Unknown Life is a theater so invite your audiences carefully. Not everyone is holy enough and healthy enough to have a FRONT ROW seat in our lives.There are some people in your life that need to be loved from a distance.It's amazing what you can accomplish when you let go, or at least minimize your time with draining, negative, incompatible, not-going-anywhere relationships, friendships, fellowships and family!Everyone Can't be in Your FRONT ROW.Observe the relationships around you. Pay attention to: Which ones lift and which ones lean?Which ones encourage and which ones discourage?Which ones are on a path of growth uphill and which ones are just going downhill?When you leave certain people, do you feel better or feel worse?Which ones always have drama or don't really understand, know and appreciate you and the gift that lies within you?Everyone Can't be in Your FRONT ROW.The mo...

I wanted to share this story that was emailed to me. Each day we wake up we do not know what journey or triumph we will have to conquer that day. Sharing our life experiences and acts of kindness sin dire circumstances is a beautiful thing and can help another in the present or future. Hey Email family, my dear friend had this horrific situation happen to her this week right on Lake Shore Drive and was strong enough to share her story.  This also made local news!  BE CAREFUL FOLKS! ------------------------------ ------------------------------ --------- From a Frightening Instant to a Shining Moment February 14, 2013 in  Inspiration ,  Life Experience Well, I had plenty of time waiting in the police station to think about this one. I wasn’t sure how or if to share this, as it took a while to set it, but as in many circumstances there are lessons, moments of clarity, and opportunities to bless someone else. Yesterday with it being sunny and ...

I would like to send a special Thank You to my long time friend and business partner Eric Horn!! Eric has been a key motivator in my life professional and personal. I have learned so much from you in regards to my Career and Professional De velopment and much more! While my mind was all over the place as where to start, you sat with me almost 6 hours to develop a plan of action for my new role as CEO for PSA. Words can not express how much I appreciate your friendship and most of all Support!! Thank you Thank you for being a blessing and ALWAYS having my back. Business owners who need Consulting Services I promise he will not disappoint! Learn more about Eric B. Horn Inc. by visiting www.ericbhorn.com and liking his FB page EricBrandonHorn See More Eric B. Horn.com ← Helping People Help Themselves… www.ericbhorn.com

PSA: The IRS does NOT issue Cash refunds, if you let someone prepare your taxes and they provided you with a Cash Refund and NO documentation is given to you,that is illegal and its Fraud!! Stop being so greedy for quick and easy money. When you are releasing such personal information i.e. social security numbers, date of birth, etc. You should always have a paper trail and a legal tax preparer will provide any documentation submitted to the IRS with no problem. Wise Up and use your common sense and stop letting the Green cloud your judgement! Patrice L Stewart "The Tax Daughter" www.patricelstewart.com

If you receive your federal benefits by paper check, you'll need to switch to electronic payments by March 1, 2013 . Here is a list of the federal benefits that are affected: Social Security Supplemental Security Income Veterans Affairs Railroad Retirement Board Office of Personnel Management Department of Labor (Black Lung) You have two options for receiving benefits electronically: 1. Direct Deposit: The U.S. Treasury deposits your benefits d irectly into your bank account. You can sign up for direct deposit in one of these ways: Enroll online . Visit your bank or credit union. Call (800) 333-1795 (Mon-Fri, 8am-8pm ET). Contact the local office of the agency providing your federal benefits. Enroll by mail . 2. Prepaid Debit Card: The U.S. Treasury deposits your benefits directly to a debit card. This is an option if you don't have a bank account and do not want to open one. You can request a debit card by calling (800) 333-1795 (Mon-Fri, 8am-8pm ET). B...

The IRS Announced that they plan to start accepting tax returns with Education Credits Form 8863, as well as Depreciation and Amortization Form 4562.   Both Forms were delayed by the IRS for filing last month due to issues with reprogramming and testing of their systems.   On Sunday, February 10, 2013 the IRS will start processing tax returns that contain Form 4562 , Depreciation and Amortization. Beginning on Thursday February 14, 2013 the IRS plans to start processing Form 8863 , Education Credits Form 8863 , Education Credits. Form 8863 is used to claim two higher education credits -- the American Opportunity Tax Credit and the Lifetime Learning Credit. Form 4562 , Depreciation and Amortization. Most of the people using the depreciation form tend to file later in the tax season or obtain a six-month extension. Non-1040 business filers using Form 4562 can also file starting Sunday.  

IRS Conducts Sweeping Nationwide Crackdown on Identity Theft and Tax Refund Fraud The IRS is taking a serious approach with efforts to arrest some of the more popular identity theft criminals.

The Tax Daughter : Viola Duvall Stewart (My Legacy) : Viola D. Stewart, 91, civil-rights pioneer Today a friend of mine Khalid Scott is helping spread the word about my Grandmothers Contribution to the Teachers of the South as well as an unknown Black History Fact! To me she was Grandmother Dear a place of safe haven and book of knowledge. She loved to share her stories of history and change with her grandchildren. She wanted us to understand how important Education was and how knowledge is Power. I could say so many things about her but the message today is to spread the word how she risked her life to fight for what was right, which at that time was equal pay for African American Teachers in South Carolina.Please read her story and click on the link under the Congressional Picture which gives the details of the case.

Its not always about gaining every client. If you genuinely provide advice to someone now they will remember you in the future and refer a paying client. Glad to receive calls from people that value the information given....Blessed

Did you know? A Tad Credit and a Deduction are not the same. The difference is a tax credit reduces the amount of income tax you may have to pay. Where as a deduction reduces the amount of your income that is subject to tax, thus generally reducing the amount of tax you may have to pay.   Patrice L Stewart "The Tax Daughter" www.patricelstewart.com