The IRS has issued guidelines on the denial and revocation of passports due to serious tax violations. The IRS must notify the State Department when a person has a "serious"...
Alternative minimum tax refers to a percentage of taxes a taxpayer must pay the government regardless of the deductions the taxpayer claims. With the AMT, some taxpayers get to pay...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
Purchases of new and used commercial vehicles are eligible for tax exemptions per the current tax law. Some vehicles may be eligible for higher deductions than others.The first year...
If you look at the TCJA, you will see that the C Corps' new tax rate is 21%, while the maximum individual rate is 37%. Also, individuals can benefit from a 20% deduction for pass-through...
Posted by CORE PERFORMANCE on 01/14/2021
A household employment tax allows everyone that hires a nanny or a gardener, to name a few, and pays them above $2,200 every year, to pay household employee taxes for their worker....
Posted by Tucker Accounting Services LLC on 01/13/2021
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
Many taxpayers have concerns about the taxes they pay and wonder if there is a way for them to save on taxes. You will be surprised to know that the best answer to this question lies...
Small Business Loans (SBAs) are among the most popular and reliable ways to get financing for small businesses. As with any financial product, though, loan rates change. What are the...