The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
The child tax credit is a credit that can give you up to $2,000 for each qualifying child while a qualifying dependent gets $500. It is a refundable tax credit that diminishes when...
What Are Tax Brackets? Tax brackets are specific income ranges used to determine the tax rate you pay on your taxable income. The United States, for example, uses a progressive...
Posted by True Tax Service on 10/25/2023
Planning for a marriage is one of the major events in the life of many people. However, many fail to account for a critical thing during the process- taxes. As a result, everyone planning...
Posted by CORE PERFORMANCE on 09/26/2021
Would you allow tax laws to influence your decision to marry your partner? Many of us may not consider this, but some spouses consider the tax implications.Over the years, much has...
Posted by Flynn Financial Group Inc on 06/05/2021
While many people might not realize, there are amazing tax benefits of purchasing a house. Two significant advantages are the property tax deduction and the mortgage interest, which...
For people that want to donate money to a political campaign, it is essential to think if one can deduct it from your tax return. The answer is no, as Uncle Sam specifies that...
Posted by Tucker Accounting Services LLC on 05/06/2021
When you get married, everything about you changes and this includes your financial status, tax obligations, filing status, and so much more. Here are tips that can immensely...
A lot of people worry that if they get a raise, they will have to pay a higher tax, leaving them in a terrible financial situation. However, it is wrong and a misconception of the...