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
There are many ways you can reduce what you will have to pay to Uncle Sam via tax credits and deductions for single moms filing taxes. You can use various strategies to reduce the...
Posted by Dennis Jao on 06/24/2021
For people that have combined their finances with their partner over the years, having to file your taxes alone might be a shock. However, there is enough information to make filing...
Posted by Abundant Wealth Planning LLC on 06/11/2021
During tax time, tax Preparation companies typically promise huge refunds. However, the refund you get is a factor in your deductions, and there are many benefits seniors might not...
Posted by Daniel P Vigilante CPA and Profit Consultants on 06/11/2021
An exemption is a legally permitted deduction that reduces the amount of income subject to income tax. The IRS previously offered two exemptions: personal exemptions and employee exemptions....
Posted by James Financial Services Inc on 05/07/2021
There are situations in which multiple parties claim the same dependent. For example, in divorced cases, a child may be claimed as a dependent by both parents. In general, only one...
Posted by James Financial Services Inc on 04/27/2021
Can't Pay Tax Before Tax Day? The most important piece of advice we can offer you is: don't avoid the problem! The IRS cannot tell if you have a legit reason for not paying...
Posted by James Financial Services Inc on 04/21/2021
Reasonable cause is based on objective facts and circumstances. What constitutes "reasonable cause" under code section 6651 to avoid penalties for failure to file an...
Posted by The TaxAdvocate Group, LLC on 04/06/2021
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Posted by Karen Munoz, EA on 02/28/2021
