The COVID-19 pandemic is complicating several people's efforts to file their 2020 taxes ahead of schedule, but the good news is that the Internal Revenue Service (IRS) has been...
When it comes to filing income tax returns, getting the lowest tax liability is not just about skill, it's about what you know. Unfortunately, many taxpayers lose deductions and...
According to the Christian faith, Jesus responded to a question when asked if it was right to pay taxes by saying, "Give to Caesar what belongs to Caesar, and God what belongs...
Taxation of trust fund incomeDeath and taxes are two things that you cannot avoid in life. While there are ways to minimize your tax participation, you certainly can't get rid...
As we ring in a New Year every year, the excitement eventually paves the way for certain realities such as paying taxes! Yes, taxes must be filed yearly, and 2020 is no different as...
Posted by Stevenson Tax and Accounting, Inc. on 02/23/2021
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...
What is an Accounting Method?An accounting method refers to the rules that a business follows when reporting income and expenses. The two main accounting methods are accrual accounting...
The lawn care business is a challenging and interesting one. Operating this business is undoubtedly fun, but it comes with its share of issues, challenges, and uncertainty. However,...
How much you paid for your cryptocurrency (cost basis) greatly impacts the taxes you pay when you finally sell them. Understanding how the specific ID, first-in, first-out (FIFO),...