No one is above mistakes. You might file your tax and discover some errors or miss some breaks; you usually make amends by filing an amended tax return. There is a grace period of...
Posted by Karen Munoz, EA on 10/24/2021
If an individual meets the criteria for foreign income exclusion, they can enjoy this tax benefit. This exclusion also entails the foreign housing exclusion and the foreign housing...
Posted by CORE PERFORMANCE on 10/09/2021
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,...
What is barter?Barter is an act of exchanging goods or services between two or more parties, sometimes more without using a monetary medium, such as physical cash or credit card. Essentially,...
Student loan interest stands out for having a lower rate, which might be attractive to many. However, there are still a couple of things to know if you consider taking a student loan. Effect...
The filing status of a taxpayer depends on individual circumstances. Are you married or single? Do you have dependents? Identifying the correct filing condition is essential, as it...
When a taxpayer cannot pay the tax bill (now or in the future) with future assets and monthly income, they may qualify for the I.R.S. Offer in Compromise program—providing a...
Posted by Flynn Financial Group Inc on 01/23/2021
All employees that were fired through whatever means except their own fault qualify for unemployment insurance – a joint program between the federal and state government that...