Taxpayers who have accrued or paid foreign income taxes in a U.S. possession or foreign country can generally deduct those taxes from their U.S. tax on foreign source income....
Posted 11/17/2022 by Jim McClaflin, EA, NTPI Fellow, CTRC
Partnerships should use Schedule K-1 tax forms to distinguish partnership income from owners' income. By doing this, your business will more likely avoid the $54,171 tax...
Posted 11/17/2022 by Taxes Made EZ Inc
In 2020, the I.R.S. processed over 3.5 million compliance activities. These activities occur when the I.R.S. thinks something is wrong with a tax return. They include: Automated...
Posted 11/17/2022 by Abundant Wealth Planning LLC
When you work as a driver for a ridesharing company like Uber, Lyft, or another ridesharing service, the important thing to understand about your taxes is that you're probably...
Posted 11/17/2022 by Pat Raskob
