While taxes for 2020 are not due until 2021, many important financial decisions made now can have a major impact on farm taxes and when they are paid. An important resource is the...
The Additional Medicare Tax has been enacted since 2013, which affects taxpayers that make more than 200,000 USD or 250,000 USD as married couples. This set of people will pay an extra...
Posted by Tiffany Gaskin on 01/13/2021
A refund offset is a process in which the taxpayer will not get the full refund; instead, the excess federal income tax will be used to service unpaid government debt. Many people...
The gambling industry in America is booming because fresh casinos and sports betting centers are springing up in various parts of the country. People that enjoy gambling know and realize...
What if you had the chance to win an award of excellence for your outstanding contributions to art, community service, or science? Do you have to pay income tax on this amount? The...
Going to university to broaden your horizons is interesting, but funding your studies with scholarships? It's even better. Scholarships often offer an educational path that would...
An alternative minimum tax puts a cap on the tax percentage amount every taxpayer must pay no matter the deductions or credit they claim. As long as your income is above a specified...
The idea behind a pension plan is to provide a monthly income for a particular age group. The responsibilities of funding the program lie solely with the employer. This article provides...
It is not a good idea to turn up empty-handed if you have a tax appointment. You need some records as proof as it will save you time and effort.New clients need to have copies of the...
Posted by Karen Munoz, EA on 12/20/2020