The EITC is an important tax credit directed at millions of families across the US. It is one of the most substantial tax credits, making it important for people to access the credit...
Posted by Pat Raskob on 06/18/2021
Data from recent statistics revealed that about $1.2 trillion was claimed as tax deductions last year. From this, a handful of people went through the standard deduction route. Unfortunately,...
Posted by Thomas G Kinsella, ATP on 06/11/2021
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
When is the perfect time to give birth to a child during a tax year so as to claim that child as dependent on your tax return? You might be amazed by the answer: but anytime during...
Posted by Rosovich & Associates, Inc. on 03/26/2021
What is investment income?Investment income is money received for the payment of interest, dividends, capital gains from the sale of shares or other assets, and any other gain obtained...
Posted by Aurelia E Weems CPA on 03/09/2021
There are different goals for all taxpayers when filing their returns each year. Some might aim at reducing their tax amount. At the same time, another might desire a huge refund amount,...
Posted by James Financial Services Inc on 03/01/2021
Tax benefits are available for military personnel and their families. However, these tax benefits are often overlooked. For example, any monthly military payment earned during a combat...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 02/23/2021
What is a dependent?A dependent is a qualified person other than the taxpayer or spouse, who gives the taxpayer the right to request a dependency exemption on their income tax return....
Posted by Income Taxes and Bookkeeping LLC on 02/10/2021
The average Americans do find it challenging to know which of the tax credit they can utilize. Yet, tax credits are essential as they provide an easy way of reducing the overall tax...
Posted by CORE PERFORMANCE on 02/06/2021
