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
The Internal Revenue Service can impose a huge number of tax defaulters that do not pay taxes or do not pay on time. These penalties may also include financial penalties imposed on...
We look forward to all kinds of days throughout the year, like birthdays, wedding anniversaries, the Friday before a three-day weekend, Public holidays, etc. However, for the goal...
Restaurants can claim a federal income tax credit based on the share of FICA and Medicare ("employment") taxes that they pay on reported tip income to employees. In an ideal...
Posted by Elliot Kravitz, ATP on 03/05/2021
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Here are some FAQ related to taxes:What Income am I to Pay taxes on?Uncle Sam’s definition of income is money, services, and properties. All income can be taxed, except there...
Posted by Don Bell Law on 02/17/2021
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...
The same way all workers pay income taxes in the United States, pastors, clergy, and ministers must pay income taxes. However, there are some tips and considerations people in this...
April 15 is normally U.S. Tax Day, which is when personal income tax returns are due with the IRS unless that day is a weekend or statutory holiday. When this is the case, the due...