Made a mistake on your tax return or realize you lost a valuable deduction or tax credit? You can file an amended tax return to correct it. Filing an amended tax return with the IRS...
Posted by Rosovich & Associates, Inc. on 04/30/2022
If you're self-employed, such as an independent contractor, or a freelancer, one question is probably the most important question regarding tax returns: How can I reduce my self-employment...
Posted by Taxes Made EZ Inc on 04/17/2022
The charitable contribution deduction has been one of the most widely used and cost-effective tax reductions available to U.S. taxpayers for many years, with nearly 37 million taxpayers...
Posted by BEST FINANCIAL GROUP LTD on 04/09/2022
Generally, tax deductions are expenditures that business owners can subtract from their taxable income. It is economical as it saves cost by reducing the tax amount you need to pay.Most...
Posted by Pat Raskob on 03/31/2022
As a self-employed worker, you can claim the status of an independent contractor. However, when it comes to paying taxes, your status has its peculiarities.If you're an independent...
Posted by CORE PERFORMANCE on 03/17/2022
Buying a home is a huge financial responsibility. But it's a worthwhile investment. One smart way to kill two birds with one stone is to deduct your mortgage points from your taxes,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 02/28/2022
You can get federal tax relief for owning a home if you itemize your deductions on the 2021 tax return and if it makes financial sense. But it's a bigger "if" than before.Although...
Posted by Income Taxes and Bookkeeping LLC on 02/28/2022
April 15th is just around the corner, and if you're like many people, chances are your tax preparation is somewhere between mild disarray to frantic, panicked scrambling. There's...
Posted by KLSM CPA Firm PLLC on 02/22/2022
If you have rental property income, you will need to file the Internal Revenue Service (IRS) Schedule E ("Supplement Income and Losses") for landlords. The key to doing this...
Posted by BEST FINANCIAL GROUP LTD on 02/08/2022