What is married filing separately?Married filing separately is a tax law for couples who choose to file their taxes, income, and deductions on separate tax returns. There is a potential...
Posted by Raven Skylar Tax & Consulting, LLC on 03/29/2021
Taxpayers and American citizens who adopt a kid can be eligible to claim the adoption tax credit after paying their out-of-pocket expenses for the adoption. Examples of these expenses...
Posted by Unifirst Financial & Tax Consultants on 03/05/2021
To help taxpayers adopt children, U.S. tax laws provide an adoption credit, up to an inflation-adjusted maximum, for adopting a child under 18 or a person of any age with a physical...
Posted by Dennis Jao on 02/28/2021
If you sell stocks, mutual funds, or other assets that you have held for at least a year, any profit from the sale will be taxed at the rate of 0%, 15%, or 20%. These long-term capital...
Low to moderate-income individuals can get massive relief from federal tax credits to cushion their tax or maximize their refunds. We will discuss some of those tax credits that can...
Posted by International Tax Consultants, LLC on 02/17/2021
For everyone with real estate that they offer for rent, there is the potential for tax deductions besides the regular income it guarantees. However, the first step is to ascertain...
Posted by Tiffany Gaskin on 02/16/2021
If you've ever taken time to look at your earnings statement from a job, you've probably noticed some tax withholding. As part of its general payroll taxes, the federal government...
Posted by Abundant Wealth Planning LLC on 02/12/2021
If you paid for college in the past year, you could claim the American Opportunity Credit or the Lifelong Learning Credit, or you can deduct tuition and fees. The American Opportunity...
Posted by Income Taxes and Bookkeeping LLC on 01/30/2021
In accordance with the TCJA, significant changes have been made to the child tax credit. These changes affect fiscal years 2020 and 2021 and beyond. This article will cover all the...
Posted by Dennis Jao on 01/30/2021
