The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Posted by Rosovich & Associates, Inc. on 01/13/2021
Nontaxable Income One needs to know which income will not be subjected to taxes. Taxes should only come from taxable income, making it essential to remove nontaxable income from...
Posted by Daniel P Vigilante CPA and Profit Consultants on 01/07/2021
Net interest income can be referred to as a financial performance that shows the difference between the revenue from the interest-bearing assets of a bank alongside the expenses that...
Posted by Stevenson Tax and Accounting, Inc. on 01/07/2021
We define backup withholding as a form of federal tax withholding on income that wouldn't usually require tax withholding. While some forms of income are not subjected to taxes,...
Posted by The TaxAdvocate Group, LLC on 12/31/2020
It is the last day of 2020, and the IRS encourages taxpayers to take the necessary steps in the final days of the year to file federal tax returns in a timely and correct manner before...
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
One of the dreams of many people is owning a house. Many people undertake this critical step by taking a mortgage. It can, however, become a burden depending on the type and nature...
Posted by BEST FINANCIAL GROUP LTD on 12/20/2020
Come tax season, your ultimate goal when it comes to filing your return is to maximize your tax savings. There are several ways to do this both throughout the year with investment...
Posted by Accurate Books And Tax on 12/03/2020
There are several options for deducting interest on student loans and student loan payments from federal income tax returns, including deducting interest on student loans, 529 eligible...
Posted by Aurelia E Weems CPA on 11/30/2020
