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...
Your taxes this year may be dominated by a clear question: "At any point in 2020, did you sell, receive, send, trade, or earned financial interest in any virtual currency?"In...
The same way all workers pay income taxes in the United States, pastors, clergy, and ministers must pay income taxes. However, there are some tips and considerations people in this...
The IRS deals with foreclosure as well as the sale of a property. It was already yours, and you no longer own it, so you could end up paying taxes on a mortgaged property. The event...
An alternative minimum tax puts a cap on the tax percentage amount every taxpayer must pay no matter the deductions or credit they claim. As long as your income is above a specified...
While the separate filing of tax is a good idea and comes with its advantages, filing jointly brings about significant tax breaks in addition to being a simple method. We compiled...
Article Highlights:Skyrocketing Government Spending Federal and State Deficits Tax Increases in Our Future Tax Strategies The outcome of the November elections...
Posted by Ace Plus Tax Resolution on 08/04/2020
You can consider the basic idea of capital gains very simple: the net profit will be known as a capital gain if you sell an asset for more than you paid for it. For example, you get...
Tax time can get a more significant number of cerebral pains a few years than in others. Peradventure you've as of late separated from your companion or were divorced, you're...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 09/25/2019