Some profound tax changes came around in Jan 2018 with the passing of the Tax Cuts and Jobs Act (TCJA). As a result of this law, the personal exemption was suspended till 2025. It...
Posted by Income Taxes and Bookkeeping LLC on 01/12/2021
The Tax Cuts and Jobs Act came with many effects, one of which was removing the business expense for unreimbursed employees till the year 2026. As a result, workers can no longer bring...
Posted by McCool's Tax Service on 01/11/2021
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
Posted by Carmen Garcia on 01/07/2021
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
Tax credits, such as elderly tax credit and the disabled, are credits applied to taxes owed. For example, if you owe $2,000 in taxes and have a loan of $700, you only have to pay $1,300....
Posted by Don Bell Law on 01/01/2021
One of the ways to significantly reduce your business income tax is the business use of a vehicle. It is an important entity that you can use to bring down your tax for two reasons: The...
Posted by Dennis Jao on 12/25/2020
If you are one of those persons who supported your parents financially in the previous year, the U.S government is willing to share the cost by providing certain deductions when you...
Posted by Tucker Accounting Services LLC on 12/21/2020
One of the things that occupies most of a businessman’s time when it is time to file taxes is how much legitimate tax deductions they can make. Next to saving you some extra...
Posted by Taxes Made EZ Inc on 12/21/2020
It is not a good idea to turn up empty-handed if you have a tax appointment. You need some records as proof as it will save you time and effort.New clients need to have copies of the...
Posted by Karen Munoz, EA on 12/20/2020
