A 401(k) plan can be an attractive way to invest because it gives employees the ability to increase their contributions before tax and tax-deferred income until retirement. According...
Tax credit for other dependents is a system designed by Uncle Sam in which relations (nuclear and extended families) can qualify for tax credits. With this credit, taxpayers can get...
There is no magic formula to determine the amount of life insurance you will need. However, you can make a reasonable estimate if you consider your present financial situation and...
When dealing with taxes, one needs to be proactive as things do not always move in a single direction. One might receive an income now with the mandate to repay some or everything...
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
We have seen that the stock market has hit several new highs in recent months. This is in addition to the fantastic bull market that ran for more than ten years before the rapid coronavirus...
There has been a lot to be done about the Affordable Care Act: from passing the law under President Obama to repealing the law under President Trump. This has left many people confused...
Posted by Pat Raskob on 01/19/2021
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...
Federal Income Tax Deadline:In the United States, the federal income tax deadline typically falls on April 15th, except when it falls on a weekend or holiday. If that's the case,...
Posted by True Tax Service on 10/28/2023