The TCJA (Tax Cuts and Jobs Act of 2017), PL 115-97, made many important changes to the Internal Revenue Code. Among the many changes to the Code, there is a provision on costs associated...
Posted by Taxes Made EZ Inc on 12/10/2021
While tax season 2022 might be a few months away, the new year will be here before you know it. The fourth quarter is the time to do proactive tax planning to lower the 2021 tax bill....
When it comes to taxes, we are always seeking ways to save money, pay less, or have returns. So regarding dependent care like taking care of children, everyone in that category wants...
Posted by Taxes Made EZ Inc on 08/06/2021
A tax credit allows you to deduct a certain amount of money from the taxes you owe. It differs from a tax deduction, which allows you to reduce your taxable income. Tax credits are...
Posted by Rosovich & Associates, Inc. on 06/24/2021
After Hurricane Katrina, it became quite common for Congress to enact tax legislation that provides tax relief for victims of natural disasters. The Internal Revenue Code's (IRC)...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/19/2021
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
Getting a new car is an interesting process. New seats, new windows, the smell of a clean car - what's not to like about it? Buying a new car usually means getting rid of an existing...
When is the perfect time to give birth to a child during a tax year so as to claim that child as dependent on your tax return? You might be amazed by the answer: but anytime during...
Alimony, also known as spousal support, is the money paid to a spouse to another after a divorce. The idea is to help the spouse with the lower income to take care of expenses and...