You can receive income in the form of money, goods, or services. This section deals with several types of taxable and non-taxable income. It includes discussions on employee salaries...
Posted by Carmen Garcia on 07/06/2021
Individuals can exclude up to $250,000 of income from capital gains tax on the sale of their primary residence, thanks to the Internal Revenue Code (IRC) exclusion of home sales. Married...
Posted by Elliot Kravitz, ATP on 06/11/2021
For most startups, maintaining tax obligations is a headache. This guide examines the main steps and concepts you need to know about a sales tax. What is sales tax?Sales tax,...
Running a farm can be cumbersome when you consider several expenses and income sources, credits and deductions, etc., which makes things complicated when it is time to file taxes. Everyone...
One of the most proven methods to bring down your tax return is to take advantage of tax deductions. It allows you to deduct expenses related to driving like fees and tolls taken by...
Even if every other thing seems uncertain, payment of tax will always be certain. Even when the Coronavirus dealt a massive blow on the whole earth, Uncle Sam still managed to have...
Posted by Schneiderman and Friedman on 01/27/2021
If you recently installed energy efficiency upgrades in your home, such as solar panels, you can get a credit for your investment. Two energy tax credits are currently available for...
It is not a good idea to turn up empty-handed if you have a tax appointment. You need some records as proof as it will save you time and effort.New clients need to have copies of the...
Posted by Karen Munoz, EA on 12/20/2020
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...