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News, information, and opinions about:

  • Federal, State, and Virginia Beach Taxes
  • The Tax Preparation Business
  • Tax Planning

If you have a question or comment, please drop me a line. Paul @ PIM Tax.

24 January 2017

I bought a new gizmo the other day and I was hoping to find a manual in the box. I'm old school. I like a book when I can get it. The kind with pages and such. Unfortunately, those are quite rare these days and my new gizmo was no exception. There was a Quickstart Guide - that 1 or 2 page graphically intensive sheet with basic instructions on how to not break your new gizmo before you get online to find the actual documentation you need to learn how to work it.

It occurred to me taxes have become the same thing. We used to go down to the library or post office to pick up tax forms and instructions. No longer. Now all of the instruction manuals are online. The only thing missing is the Quickstart Guide. There isn't a Quickstart Guide for taxes. I started to contemplate what one might look like. Then I decide, what the heck - I'll make one. And just for fun I'll throw in my analogy about taxes being membership dues owed to Club America.

Behold, my friends - the completely unofficial federal tax Quickstart Guide. I hope you find it useful.

 

 

 

Disclaimer

Information in the Tax Blog is current as of the day it was posted. Tax laws change frequently, and it is likely that as time passes acts of Government will make some of the older blog content out of date.

The information provided is for education purposes only. It is general in nature and may not pertain to the Reader's situation. Every taxpayer's circumstances are unique. Reader's are urged to do some research or talk to a tax professional before acting on any of the information posted in this blog.

Paul D. Allen is a proud member of the National Association of Enrolled Agents, the National Association of Tax Professionals the Financial Planning Association of Hampton Roads, the National Association of Personal Financial Advisors (NAPFA), and The Tidewater Real Estate Investors Group. You can read more about Paul's background here.

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Common Acronyms

ACTC - Additional Child Tax Credit

AGI - Adjusted Gross Income

AMT - Alternative Minimum Tax

APTC - Advanced Premium Tax Credit

AOC - American Opportunity Credit

CTC- Child Tax Credit

EIC - Earned Income Credit

HoH - Head of Household

LLC - Lifetime Learning Credit

MFJ - Married Filing Jointly

MFS - Married Filing Separately

MAGI - Modified Adjusted Gross Income

PIM - Plan of Intended Movement

PTC - Premium Tax Credit

QC - Qualifying Child

QHEE - Qualifying Higher Education Expenses

QR - Qualifying Relative

QW - Qualifying Widow(er)

 

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