Learn what to do when you have not been paying your estimated quarterly taxes, especially when you may not be able to pay all your owed taxes at once.When it comes to paying federal...
Posted by Taxes Made EZ Inc on 08/24/2022
Today, relatively few Americans itemize deductions on their tax returns. You can claim either the standard deduction or the itemized deductions, but not both. And, of course, you always...
The year end approaches, making it a terrific time to start preparing for taxes. It is never too early, as getting an early start can save you from mistakes and tax fines. While...
Posted by Pat Raskob on 12/10/2021
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
A flexible spending account (FSA) is a healthcare benefit account sponsored by the employer, which allows them to set aside $2,7750 every year to take care of the cost for medical...
If you need to file for an individual federal income tax return, you will now use the IRS Form 1040 or 1040-SR for Seniors. The other alternatives above: Forms 1040A and 1040EZ ended...
Unknown to many people, the proceeds from selling a house might be taxable. However, this article sheds light on the mode of operation and simple ways to avoid ending up with a huge...
The child tax credit is a credit that can give you up to $2,000 for each qualifying child while a qualifying dependent gets $500. It is a refundable tax credit that diminishes when...
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...