Many married couples prefer using the joint filing status to file tax returns. In essence, you or your spouse can file the tax return. Married couples using the joint filing status...
Posted by KLSM CPA Firm PLLC on 01/30/2023
IRS Form W-4 informs your employer how much income tax to withhold from your pay. You will need to complete one when you start a new job. You can also send a new W-4 to the human resources...
Posted by KLSM CPA Firm PLLC on 01/09/2023
A pension credit, also called a saver's credit, is a tax credit you can claim by contributing to a pension fund. The credit is calculated on your tax return, which is more beneficial...
Posted by Dennis Jao on 01/09/2023
Low and moderate-income earners are the beneficiary earned income tax credit, aka EITC or EIC. The program pays between $560 to $6,935 for the 2022 tax year but depends on your income,...
Posted by Rosovich & Associates, Inc. on 01/09/2023
Paying for college is a hurdle for many American families.According to the Department of Education's National Center for Education Statistics, the average in-state undergraduate...
Posted by Rosovich & Associates, Inc. on 12/31/2022
The itemizing deduction route is the easiest way to enjoy tax benefits from your income tax on a federal tax return. This approach allows you to enjoy deductions on medical expenses,...
Posted by Dennis Jao on 12/26/2022
Americans are feeling the pain from rising prices in all sectors, but they could make filing taxes a little less complicated in the future.This is because inflation has caused the...
Posted by Tiffany Gaskin on 12/26/2022
The first-time home buyer's tax credit was introduced during the 2008 financial crisis to help Americans buy more affordable homes. Although there are many other mortgage and loan...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/18/2022
A separate tax file gives each spouse the responsibility of paying their taxes. Married couples can decide to pay their taxes separately to avoid the penalties of filing jointly. The...
Posted by Tiffany Gaskin on 12/18/2022
