What is the alternative minimum tax (AMT)?Alternative Minimum Tax (or AMTs) is a different but parallel method of calculating the taxpayer's account. It applies to people with...
Posted by Taxes Made EZ Inc on 01/09/2022
It is easy to desire the benefits your friends enjoy in paid employment when it is time for tax. As someone self-employed, you will do a lot of record-keeping while they only fill...
Posted by Pat Raskob on 01/01/2022
The Internal Revenue Service (IRS) changes certain tax provisions each year to deal with inflation. The idea is to prevent taxpayers from losing more tax exemptions because they could...
Posted by Unifirst Financial & Tax Consultants on 01/01/2022
A small business owner will need to buy essential business equipment, vehicles and gadgets over time. However, deducting such expenses for tax is not a straightforward decision due...
Posted by Dennis Jao on 08/30/2021
Unknown to some people, when they get to a particular income level, a parallel tax system applies to their income. This is a distinct tax structure called the Alternative minimum tax...
Posted by Income Taxes and Bookkeeping LLC on 07/24/2021
The 2017 Tax Cuts and Jobs Act (TCJA) was one of the most sweeping tax code revisions in decades. Most of its provisions came into effect on January 1, 2018, and most of the changes...
Posted by Unifirst Financial & Tax Consultants on 07/06/2021
If you need to file for an individual federal income tax return, you will now use the IRS Form 1040 or 1040-SR for Seniors. The other alternatives above: Forms 1040A and 1040EZ ended...
Posted by Taxes Made EZ Inc on 04/09/2021
Companies can reward their financial investors by paying dividends to shareholders. Certain dividend income may benefit from special tax treatment per the applicable tax code. This...
Posted by Unifirst Financial & Tax Consultants on 02/28/2021
As a U.S. citizen or U.S. Resident Alien, you must pay taxes on your worldwide income. Suppose you are not a resident of the United States or its territories or have income in the...
Posted by James Financial Services Inc on 02/23/2021
