Those who cannot withhold federal taxes from each paycheck must pay taxes quarterly.United States income tax operates on a pay-as-you-go system, in which the federal government collects...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/11/2021
Many people have hobbies like playing the piano or bead making simply for fun and do not expect any special monetary compensation from it. Some hobbies might require a couple...
Posted by KLSM CPA Firm PLLC on 03/17/2021
The Federal Fuel Tax Credit is a program that allows businesses to reduce their taxable income dollar by dollar-based on specific types of fuel costs. The fuel tax credit encourages...
Posted by Dennis Jao on 01/06/2021
Uncle Sam defines passive activities as a business venture you are not actively involved in. For the purpose of tax, income can be grouped into two categories according to the IRS...
Posted by Abundant Wealth Planning LLC on 12/26/2020
When your anticipated tax refund is being held by the federal government, the possibility is that you have defaulted your federal student loans.Funds are collected by the Treasury...
Posted by Taxes Made EZ Inc on 04/03/2020
With bankruptcy, millions of Americans have been able to get out of debt and get a fresh start. It is a legal tool with which people can get relief from debt and comes in different...
Posted by Tucker Accounting Services LLC on 05/29/2021
Almost every section of the tax code was changed by the 2017 TCJA, which also affected every taxpayer, including businesses. While some of these changes were positive (reduced tax...
Posted by Karen Munoz, EA on 05/24/2021
Running a farm can be cumbersome when you consider several expenses and income sources, credits and deductions, etc., which makes things complicated when it is time to file taxes. Everyone...
Posted by One Stop Taxes on 03/18/2021
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
Posted by Flynn Financial Group Inc on 02/07/2021
