Also known as EITC or EIC, the Earned Income tax Credit is a refundable credit, meaning that if you owe no tax and you qualify, you will get the value of the credit. The idea is to...
Posted by Karen Munoz, EA on 09/03/2021
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
The tax that exists on all business income differs in various states. While some US states tax corporations strictly, others tax many forms of businesses. Various states have different...
A joint tax filing return makes both parties responsible for the tax bill. It removes the need to foot additional tax debt with an innocent spouse relief if your partner or ex-partner...
As long as you are full-time Forex traders, you will enjoy some impressive tax advantages that ordinary market participants won't get. However, this qualification might be challenging....
It's tax season! Tax return companies and DIY software vendors work hard to convince individual taxpayers that their services and products are the way to maximize tax refunds or...
The process of growing your financial asset is known as investment. This can happen in various ways, like investing in an asset that will give a cash flow, rising prices, or both....
QBI, also known as qualified business income deduction is a form of tax deduction that allows business owners and qualified self-employed people to deduct as much as 20% out of their...
In appreciation for military men's services, Uncle Sam offers a series of tax breaks for veterans with disabilities. This article sheds light on each alongside how one might qualify...