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Money Management: Tax Help Resources

Tax Basics 

Nolo, one of the Internet's first legal sites, began publishing do-it-yourself legal guides over 40 years ago. This webpage offers various consumer and small business tax help articles. 

Current Tax Tips, IRS

Understand unemployment and income tax requirements in New York State, New York State

 

Tax Planning Insight 

Financial Planning delivers analysis and insight geared toward independent financial advisors, this site provides current tax analysis, opinion, expert advice, and practical business-building content. 

Kiplinger, a Washington, D.C.-based publisher of business forecasts and personal finance advice, offers here an overview of tax planning. 

 

Tax Prep Software 

Top Software to Prepare Taxes for Free, Investopedia 

 

Earned Income Tax Credit

What is the Earned Income Tax Credit (EITC)?Get It Back Campaign

EITC Eligibility Checker, Get It Back Campaign

Tax Help for People Who Miss Out on a Valuable Credit, New York Times

The New York Times reports on a tech group and a volunteer program helping more eligible individuals receive their earned-income tax credit. 

 

Free Tax Help

Free Tax Help is available in a variety of formats. Below are websites that offer information on how you can get assistance that is both free and reliable. Please note, there are numerous services that charge fees and which may be fraudulent. We encourage you to use the organizations identified below.

NYC Department of Consumer Affairs (DCA) coordinates the City’s annual tax time campaign to alert eligible New Yorkers about free tax assistance providers and encourages them to take advantage of these reliable options. The DCA site  ( nyc.gov/taxprep ) is being updated regularly with links to reputable organizations. Visit the site for explanation of the types of assistance available, eligibility requirements and documents you will need to receive assistance. Use their map to find locations for Drop-off and In-person services. Available services are primarily online: 

  •     Virtual Tax Prep
  •     Self-preparation Assistance
  •     Drop-off Service
  •     In-person Tax Prep at a limited number of locations

AARP’s Brooklyn District will not offer in-person preparation this year in consideration of the safety of its volunteers. AARP Foundation Tax-Aide's webpage has been updated with new features to make it easier for taxpayers to request tax help.

Bedford Stuyvesant Restoration Corporation is offering free tax preparation services by appointment starting on February 12. They offer Virtual Tax Prep and In-person Drop-off. Visit restorationplaza.org/tax-prep-2021/ or call (929) 432-3314 for more information.

Single Stop is offering Virtual Free Tax Prep and Free Assisted Self-preparation to income eligible New Yorkers, January 25 - April 11, 2021. You must schedule an appointment online for Virtual Tax Prep:
    - individuals under 60 years - bit.ly/SingleStoptax
    - individuals over 60 bit.ly/SingleStopTCEtax
For information on eligibility or details call 800-290-7189 or email TaxSupport@singlestop.org

Virtual Financial Coaching

Photo by Sandy Millar on Unsplash

 

Do you have questions about credit or debt? The Financial Coaching Corps (FCC) can help you manage your money, find resources in a financial crisis, and make progress toward your financial goals. 

Make an appointment with a coach from the Financial Coaching Corps of the Community Service Society of NY. At this time all coaching is virtual by phone or Google Meet. 

Please select an appointment date and a financial coach will confirm your appointment by e-mail.
If you have questions about financial coaching, email us at bplfinancecoach@gmail.com.

Virtual Financial Coaching is a service of Brooklyn Public Library's partner, Community Service Society.

Small Business and Self-Employed Tax Regulations 

Self-Employed Individuals Tax Center, IRS

General topics and resources covered here relate to freelancers and the self-employed and their individual tax concerns. 

Tax Planning Resources, SCORE

Providing a range of services, SCORE’s tax help here is centered on established and emerging small business owners alike. 

Books from our Catalog

J.K. Lasser's your income tax 2021

This bestselling tax reference, updated to reflect the changes to the 2020 tax code, offers step-by-step instructions that guide you through the worksheets and forms needed to file your taxes according to the best tax strategy for your financial situation.

"J.K. Lasser's Your Income Tax 2021 delivers a comprehensive and reliable guide to preparing your own 2020 taxes. Trusted by taxpayers for over seventy-five years, the latest entry in this series comes complete with worksheets and sample forms, as well as the advice that will ensure you get the biggest possible refund. Readers of this tax guide will benefit from: Hundreds of examples of how newly updated tax laws apply to individual taxpayers; Special features inserted throughout the text that highlight important concepts like new tax laws, IRS rulings, court decisions, and tax filing tips; Sage advice on maximizing deductions and credits, sheltering income from tax, and minimizing what you owe; Crucial information on the SECURE Act and the CARES Act"--adapted from publisher website.

Stand Up to the IRS

Contains strategies and insider tips to help readers deal with the IRS, whether for an outstanding tax bill or audit.

Small business taxes

A guide to assist small business owners with important tax planning issues, including coverage of the tax changes taking effect in 2018, creating an ongoing tax routine, dealing with the IRS, and navigating audits and notices.

J.K. Lasser's small business taxes 2021 : your complete guide to a better bottom line

The tax facts and strategies that every small business owner needs to know for their 2020 tax return and year-round planning. Owning a small business is a big responsibility. While all small business owners seek to improve their bottom line, few realize all the ways that both current and new tax laws can help them do so. With J.K. Lasser's Small Business Taxes 2021 you'll quickly discover how. Written in a straightforward and accessible style, this reliable resource offers a complete overview of small business tax planning and provides you with the information needed to make tax-smart decisions throughout the year. Focusing on strategies that help you use deductions and tax credits effectively, shield business income, and maximize other aspects of small business taxes, this practical guide will show you how your actions in business today can affect your bottom line from a tax perspective tomorrow. It also shows COVID-19-related refund opportunities to improve your cash flow