The wage garnishment on a federal student loan occurs when the employer deducts part of the payment to repay the student loan after non-payment. Please note that under the Covid-19...
If you own a rental property, you should know your federal tax obligations. All rental income needs to be reported on your tax return, and the associated expenses can generally be...
One might spend a lot of income on medical bills, especially when unplanned emergencies arise and the insurance cannot cover it all. The bright side is that one can have some relief...
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...
The medical expense deduction is large enough to cover pregnancy tests, braille books, and smoking cessation programs. However, it doesn't cover everything you pay to stay healthy....
Is Foster Income Taxed?Payments received as Foster Income are NOT taxable, so you do not need to report them. Suppose the assistance is provided to a qualified foster individual and...
A taxpayer who adopts a child may meet all requirements for the adoption tax credit. People qualify for the adoption tax credit they adopted a ward and paid out-of-pocket costs identifying...
Posted by Debi G Hill, CPA on 08/26/2019
If you have been relieved of your job, odds are your pay has dropped significantly. That implies your tax status has likely changed too. You may now be eligible for deductions...
Posted by Elliot Kravitz, ATP on 05/29/2019
The Work-related costs scheme for salary-related allowances and advantages is compulsory for each state. In numerous projects, the employer can reimburse employees to offer particular...
Posted by Tax Solutions & Accounting Services on 04/27/2018