Financial Tips & Resources
Whether you are looking for tips and resources to help with your taxes or looking to plan for your retirement and need access to useful tools to pick the right insurance products for you, the Skyrocket Tax Service blog is your one-stop resource to give you a head start!
Introduction: Second Chances in the Tax World Mistakes happen, even in the meticulous realm of taxes. But unlike some errors in life, the IRS offers a do-over for your tax return. If you’ve ever wished you could correct a tax misstep, the amended return process is your golden ticket. Let’s navigate the world of IRS amended returns. Why Amend a Return? Reasons abound: Income Adjustments: Perhaps you forgot to report certain income or received an
Introduction: A Rewarding Relationship Investing can be a rewarding venture, not just for the returns but also for the dividends that come your way. But with dividends comes the responsibility of reporting them accurately to Uncle Sam. Enter Form 1099-DIV. Let’s unravel this form and its role in your tax story. What’s the 1099-DIV All About? Simply put, Form 1099-DIV is the IRS’s way of keeping track of the dividends and distributions you’ve received over
Introduction: The Heartbeat of Your Tax Return The world of taxes is filled with acronyms, but few are as central as AGI. If you’ve ever felt like you’re swimming in a sea of numbers when tax season rolls around, the AGI calculator is your life raft. Let’s set sail into the deep waters of AGI and its significance. What is AGI? Adjusted Gross Income, or AGI, is the foundation upon which your tax return is
Introduction: The Interlink of Health and Wealth Ah, the blissful union of health insurance and taxes. Two things most people adore talking about, right? Jokes aside, if you’ve availed health insurance through the Marketplace, you’ve likely encountered Form 1095-A. Let’s unravel this document and its significance in your tax journey. Decoding Form 1095-A Form 1095-A, known as the Health Insurance Marketplace Statement, is essentially a proof of insurance. It provides details about the insurance you’ve
Introduction: Global Assets, Local Taxes In an age of globalization, it’s not unusual for individuals to have assets or trusts in foreign countries. But with global assets come local tax implications. Enter the Form 3520. If this form is a new acquaintance, allow us to introduce you. Deciphering Form 3520 Form 3520, also known as the Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, is a document used to
