What are foreign tax credits?Foreign tax credits are non-refundable income tax credits paid to a foreign government because of income tax. The foreign tax credit is available for those...
Have you received an email stating that you have filed a tax return electronically or that your tax return has been accepted or rejected by the I.R.S., but you know you have not filed...
What is an Accounting Method?An accounting method refers to the rules that a business follows when reporting income and expenses. The two main accounting methods are accrual accounting...
The US tax system is set up on both the federal and the state level. There are several taxes which citizens must file. These taxes include: income tax, capital gains and sales tax....
This year’s tax day has been delayed by the United States Internal Revenue Service from the 15th of April to the 15th of July. This means a lot of Americans won’t be worrying...
Posted by Tim Thompson CPA PLLC on 06/23/2020
Recognize whether which of the standard deduction and itemized deduction suits you before you file.Although you don’t have plenty of choices when it comes to paying taxes, you...
Are you afraid to take a home office deduction because you’re worried it might trigger an audit? This fear is common among small businesses. But there’s really no need...
Posted by Flynn Financial Group Inc on 06/22/2020
The US Internal Revenue Service has postponed this year's tax day from April 15 to July 15, and that may mean that many Americans are not thinking about taxes during this difficult...
Toward the year's end, it's typical for executives and professionals of various levels to feel overpowered by mounting assignments, ventures, and cutoff times. The December...
Posted by LLOYD J CAZES CPA on 10/23/2019