Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
All workers and employers in the service industries where tips occur should abide by the relevant tax rules. One needs to pay income tax, Medicare tax, and Social security taxes on...
If you are moving to a foreign land to settle, start a new job, or even set up a business, the US Expat taxes might qualify you for some tax exclusion. One, however, needs to apply...
Many landlords pay more tax on their properties than they should. This is because they are ignorant of the several tax advantages and benefits of becoming a landlord. More than any...
There is no magic formula to determine the amount of life insurance you will need. However, you can make a reasonable estimate if you consider your present financial situation and...
The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Taxpayers use form 3903 to deduct moving expenses involved in a new job. This deduction, however, is no longer applicable to all taxpayers. A couple of years ago, Uncle Sam came up...
Personal Information:Social Security Number (SSN): You and your dependents' SSNs are essential for tax identification.Filing Status: Determine your filing status (e.g., single,...
Posted by True Tax Service on 10/23/2023
Pet Moving Expenses: In some cases, moving expenses for your pet may be deductible if you're relocating for work. This includes transportation, lodging, and even pet quarantine...
Posted by True Tax Service on 09/29/2023