Most taxpayers will likely agree that the US tax code is complicated and difficult to understand. It is, therefore, evident that some common tax myths have arisen over the years. And...
Involuntary conversion is the theft or damage of property without the owner's consent, such as partial or total destruction, theft, condemnation, or the sale or exchange of property...
Posted by Flynn Financial Group Inc on 02/16/2021
For people that relocated to start a new job, they can deduct moving expenses. This deduction is available for people in the military. Rules for Military Qualification Military...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
The standard mileage rate, also known as daily mileage or deductible mileage, is a rate set by the Internal Revenue Service (IRS) per mile maintained by a taxpayer for business purposes...
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
People who claim a standard deduction do not usually have to worry about the latest tax codes. However, when you plan to match your deductions for this tax season, check the latest...
Posted by Debi G Hill, CPA on 05/29/2019
April 15 has been the Tax Day in the US since 1955, or the following business day on the off chance that it falls on an end of the week or holiday. In spite of the way that taxes are...
Posted by LLOYD J CAZES CPA on 05/29/2019
The act of itemizing deductions is said to be an effective way of reducing one’s taxable income and maximizing tax savings. You get to claim a bigger deduction compared to the...
Posted by Global Accounting on 01/27/2019