Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
There are multiple options for anyone that wants to pay their taxes. This article will shed light on various payment options available from the IRS.Automatic Payment People who...
Ideally, scholarships and grants should not be taxable, which is good news for students. However, it is too early to rejoice as Uncle Sam might want a cut based on the amount you got...
Posted by Pat Raskob on 03/08/2021
Amnesty is an expression of forgiveness on the part of the federal government to its citizens. The choice is not to punish a business, an individual, or an entity for a crime. Under...
The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Alimony, also known as spousal support, is the money paid to a spouse to another after a divorce. The idea is to help the spouse with the lower income to take care of expenses and...
Opening up the business of your choice is not a walk in the park. It is not enough that you have the necessary capital to invest in the type of shop or store that you have been planning...
A type of fringe benefit offered to employees of a certain business is an employee stock purchase plan (ESPP). The business allows the employees’ option to purchase the company’s...
Economic crises are not the only problem stimulated by the current COVID-19 pandemic, it also greatly affect the health-related issues. Because of unemployment, the following weeks...
Posted by Taxes Made EZ Inc on 06/23/2020