If you need to file for an individual federal income tax return, you will now use the IRS Form 1040 or 1040-SR for Seniors. The other alternatives above: Forms 1040A and 1040EZ ended...
Posted by Taxes Made EZ Inc on 04/09/2021
A lot of people worry that if they get a raise, they will have to pay a higher tax, leaving them in a terrible financial situation. However, it is wrong and a misconception of the...
Posted by Karen Munoz, EA on 03/31/2021
One might be lucky and win an award for a distinguished contribution to the community, science, or art. It is important to wonder if one needs to pay income tax. Sadly Yes!Prizes,...
Posted by McCool's Tax Service on 03/22/2021
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
What are itemized deductions?Itemized deductions are a list of expenses that you can use to reduce taxable income on your federal income tax return. These include medical bills, taxes,...
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
Several charities are experiencing a drop in donations as the United States grapples with the COVID health crisis. In response, Congress included a clause in the CARES Act, designed...
Posted by Karen Munoz, EA on 11/20/2020
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
Posted by CORE PERFORMANCE on 11/06/2020
Itemized deductions are tax deductions you receive for various expenses incurred during the year. They can sometimes exceed the standard deduction, which means that specifying the...
Posted by Don Bell Law on 06/11/2020
