Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
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...
There are a series of tax breaks and deductions you can claim if disabled and with this, you get to significantly reduce your income tax and even have a robust tax refund. The...
Earned Income tax Credit is an endeavor of the IRS to help millions of Americans. People need to review their credit and see if they qualify. Existing since 1975, it is one of the...
Posted by Frank Penn on 02/18/2020
As you probably know, most of your income is taxable. If you earn a salary, an hourly wage, tips, commissions, renting a property you entrust or dividends and interest on your investments,...
Posted by Advanced Accounting & Tax Planning on 08/02/2019
Peradventure you are indebted to the IRS and can't pay, you might be qualified to defer making payments on past-due personal income taxes. To meet all requirements for deferral,...
Posted by Valderas Financial Solutions LLC on 07/26/2019
The United States provides assistance to needy individuals and families through their social welfare system. The state governments spent about $390 billion the welfare of their residents...
As you are probably aware, the large proportion of your income is taxable. Whether earned through a salary, hourly wages, tips, commissions, rent from a property that you lease or...
Posted by Elliot Kravitz, ATP on 07/25/2019
You are entitled to an array of tax deduction and credits if you are disabled. This may result in the IRS sending you money and eliminate your income tax liability. If you have...
Posted by John Pournaras Agency on 06/25/2019