The standard deduction can help you deduct thousands of dollars from your taxable income. What is it, and how do you claim it?It is never too late to start thinking about how you plan...
Posted by Unifirst Financial & Tax Consultants on 11/24/2020
To help working parents cope with the rising costs of care, Congress approved the credit to care for children and dependents. The loan allows working parents to reduce their tax obligations...
Posted by Daniel P Vigilante CPA and Profit Consultants on 11/19/2020
When allowable deductions exceed gross income in a fiscal year, you end up with a net operating loss. To calculate your business's net operating loss, you must deduct the tax deductions...
Posted by Dennis Jao on 11/16/2020
Buying a home is one of the most expensive purchases most of us will make, so anything that can lower a mortgage cost is worth considering.In addition to negotiating a good price and...
Posted by Dennis Jao on 10/21/2020
A withholding tax is an amount that an employer takes from its employees' wages and pays it directly to the government. The amount withheld is an income tax credit that the employee...
Posted by Abundant Wealth Planning LLC on 10/01/2020
Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...
Posted by Elliot Kravitz, ATP on 10/01/2020
Interest income is the entire amount of interest that an amount generates in a given period. This amount can be likened to the investment balance used to calculate the return on investment...
Posted by Daniel P Vigilante CPA and Profit Consultants on 09/18/2020
In recent months, the IRS announced that taxpayers would be able to electronically file Forms 1040-X, Amended Form of United States Individual Income Tax Return. According to...
Posted by Don Bell Law on 09/18/2020
The coronavirus has affected all aspects of our lives, including our tax obligations. In addition to extending the 2019 annual fee filing deadline, the estimated quarterly fees'...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 09/15/2020
