Every taxpayer could prefer living tax-free. Unfortunately, the tax system is made more challenging by emerging tax laws. These laws create tons of questions, leaving taxpayers overwhelmed...
Posted by Abundant Wealth Planning LLC on 11/28/2022
In 2020, the I.R.S. processed over 3.5 million compliance activities. These activities occur when the I.R.S. thinks something is wrong with a tax return. They include:Automated under...
Posted by Abundant Wealth Planning LLC on 11/17/2022
The Earned Income Tax Credit (EITC / EIC) is a scheme to lower the taxes owed by low to moderate-income earners. The EITC, which stands for Earned Income Tax Credit, is refundable...
Posted by Abundant Wealth Planning LLC on 10/30/2022
It's never good news when Uncle Sam flags you for an audit. It sends waves down your spine even when you think you have done nothing wrong. The fear of auditing is the best option...
Posted by Tiffany Gaskin on 10/30/2022
Taxpayers find filing taxes hectic because it consumes more than thirteen hours of their time. The time consumed can extend beyond those hours depending on the complexity of your financial...
Posted by KLSM CPA Firm PLLC on 10/16/2022
Students may want to start their credit journey with a new card. But being eligible for a traditional credit card can be difficult when you have limited income and bad credit history.This...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/03/2022
Federal tax returns are required to file the FAFSA (Free Application For Federal Student Aid). The federal government uses the information on the tax return to investigate a family's...
Posted by Abundant Wealth Planning LLC on 07/31/2022
Everyone has once thought of a way to reduce their taxable income. Taxpayers at times go as far as protesting for tax reduction. Some think of a filing structure that reduces tax....
Posted by KLSM CPA Firm PLLC on 07/12/2022
The Internal Revenue Service has passed the information on returning millions of taxes from 2021. Meanwhile, taxpayers are frustrated because of the lengthy process but are still patient...
Posted by Tiffany Gaskin on 07/12/2022
