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...
The Internal Revenue Service (IRS) recently released annual tax inflation adjustments for 2021 for more than 60 allowances, including tax rate schedules, standard deductions, itemized...
Posted by Rosovich & Associates, Inc. on 12/31/2020
IRS Form 1099-A is an informational declaration that reports the application of a property. Homeowners typically receive an IRS Form 1099-A from their lender after their home has been...
Business owners have specific rules and guidelines associated with filing their taxes. Running a daycare can be expensive, and the IRS offers incentives for the expenses incurred....
If you want to enjoy deductions on federal tax bills, mortgage point deduction is a terrific way to claim it. At times, it is sometimes called discount points or origination points;...
Many taxpayers do not like taking the home office deduction because they fear they might raise some eyebrow from the IRS. Sadly, this is true, especially if you take excessively large...
The Internal Revenue Service (IRS) estimates that millions of transactions with cryptocurrencies go unreported, despite awareness of tax rules and measures to create lawsuits against...
Posted by Taxes Made EZ Inc on 06/15/2020
Definition of Taxable Income:• Taxable income is the portion of your total income that is subject to taxation by the government....
Posted by True Tax Service on 10/30/2023
Personal Information:Social Security Number (SSN): You and your dependents' SSNs are essential for tax identification.Filing Status: Determine your filing status (e.g., single,...
Posted by True Tax Service on 10/23/2023