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...
Being a Caregiver is a pretty tricky job that could also take its toll on your pocket. It is like being responsible for someone's well being, hence everything the person needs...
Who is a tax dependent?A tax dependent is a relative or child whose characteristics and relationship with you allow you to claim certain credits and tax deductions, such as head of...
Posted by CORE PERFORMANCE on 03/10/2022
Every taxpayer needs to ensure they get all the credits and deductions that they qualify for, as this is the only way to legally reduce your tax bill. Uncle Sam does not care...
Posted by Karen Munoz, EA on 09/26/2021
Hats off, graduate! You have studied a lot, passed the exams and now have a degree.Now that you have graduated, you are likely to enter the workforce or begin postgraduate studies....
Posted by CORE PERFORMANCE on 07/16/2021
Many older children these days now look after and take care of their aged parents. Unknown to many; however, Uncle Sam can reward you in the form of tax credit for such care to reduce...
Posted by Elliot Kravitz, ATP on 06/24/2021
For most startups, maintaining tax obligations is a headache. This guide examines the main steps and concepts you need to know about a sales tax. What is sales tax?Sales tax,...
An Insight into Personal Use propertyUncle Sam defines personal use property as an asset or property used solely for private purposes and does not serve as an investment or business...
A taxpayer will often end up with a huge tax bill that will be above what they can afford. This leaves most taxpayers confused on the next cost of action. Owing Uncle Sam, a sum...