Many people struggle to find the funds they need to build up their retirement savings. Fortunately, a non-refundable tax credit, called a retirement savings contribution credit, can...
The labor market is a tight space with talented workers making it a competing ground for companies. Thus, the tax system has tax credits to assist employers in providing for their...
Posted by KLSM CPA Firm PLLC on 04/27/2023
Many eligible citizens got an advance payment of the Recovery Rebate Credit, a program authorized and scheduled by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. People...
There are several ways to reduce the tax burden. However, the two most popular are probably tax credits and tax deductions. While they may look the same, they are two very different...
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
If you recently installed energy efficiency upgrades in your home, such as solar panels, you can get a credit for your investment. Two energy tax credits are currently available for...
In recent months, the IRS announced that taxpayers would be able to electronically file Forms 1040-X, Amended Form of United States Individual Income Tax Return. According to...
Posted by Don Bell Law on 09/18/2020
The law on coronavirus aid, relief, and economic security Acts (the CARES Acts) contains a provision for the exemption of companies known as employee retention credit, a refundable...
Posted by Freddie Cook, CPA on 06/22/2020
Tax Day 2020 is Wednesday, April 15 and before you even know it, it’s already here. We all know that one of the most stressful days for most Americans is tax time and that’s...
Posted by Larry Hurt on 04/27/2020