The Earned Income Tax Credit, or EITC, provides tax benefits to low- and middle-income workers and families. Credit range from $1,502 to $6,728 for fiscal year 2021 and $560 to $6,935...
Posted by Income Taxes and Bookkeeping LLC on 04/30/2022
Property damage is never a good thing. In some cases, however, you can get some of your money back by taking a tax deduction. A tax deduction for disasters, casualties, and theft can...
Posted by BEST FINANCIAL GROUP LTD on 04/17/2022
Generally, the specific amount you pay for taxes is dependent on your current filing states. Many people do not have a clue about what a filing status is all about.Essentially, three...
Posted by Income Taxes and Bookkeeping LLC on 04/09/2022
Persons aged 65 and over and those who took early retirement due to disability are eligible for a federal tax credit which varies from $3,750 to $7,500. The senior citizen or disability...
Posted by Dennis Jao on 03/31/2022
Although same-sex marriages have been nationally recognized since 2015, some couples may still have a common-law marriage or civil partnership rather than a marriage. Persons living...
Posted by CORE PERFORMANCE on 03/31/2022
Who is a tax dependent?A tax dependent is a relative or child whose characteristics and relationship with you allow you to claim certain credits and tax deductions, such as head of...
Posted by CORE PERFORMANCE on 03/10/2022
You can't help but give Uncle Sam his due, and if you want to avoid an audit, it's important to get it right the first time. Unlike W-2 employees, the self-employed taxes are...
Posted by Dennis Jao on 02/28/2022
So, you have welcomed a new member into your family. Congratulations. We hope you are aware of the tax breaks that the new baby offers.There are many ways you can prepare for a coming...
Posted by Abundant Wealth Planning LLC on 02/22/2022
A tax refund is a big deal. Tax season is a time to expect extra money from old Uncle Sam if you're like many people. But could you have a lower tax refund than expected?If you're...
Posted by Dennis Jao on 02/14/2022