A tax deduction is a legal method of reducing your taxes without being penalized. There is a wide margin between a deduction and credit, and the value is not the same, making it look...
Posted by Taxes Made EZ Inc on 11/10/2022
Caregivers do forfeit their jobs and employee benefits to perform a selfless act of caring for loved ones. However, there are benefits attached to the selfless act that is not known...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/30/2022
The IRS considers an independent contractor as a self-employed or an entity hired to provide a service or work for another entity as a non-employee. Due to that, independent contractors...
The W7 form is issued to non-citizen taxpayers to update their information which the IRS will use to verify their identity. The W7 form also required ITIN. Many taxpayers are wondering...
Posted by Pat Raskob on 10/30/2022
There are specific organizations that provide tax benefits to their donors. For example, the Internal Revenue Code provides tax incentives to people donating to organizations like...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/26/2022
Nobody likes paying spousal support. At least when you pay child support, you know it is for your kids, not your ex. Long-term alimony (or maintenance, spousal support, or whatever...
Posted by Pat Raskob on 10/26/2022
Each year, taxpayers must file Form 1098, Mortgage Interest Statement, with the Internal Revenue Service (IRS) for their mortgages and provide this statement to you. This statement...
Posted by Taxes Made EZ Inc on 10/16/2022
Form 1099-C and Cancelation of Debt is a system created by the Internal Revenue Service (IRS) to clarify all transactions made to taxpayers by loan service providers and creditors....
Posted by Pat Raskob on 10/16/2022
When people plan their wealth in anticipation of their death, it doesn't necessarily mean they want death, but they understand the importance of passing those fortunes to a hand...
Posted by Taxes Made EZ Inc on 10/07/2022