When it comes to taxes every year, many homeowners like you seek tax breaks. Fortunately, many homeowner tax deductions can add up to several thousand dollars.Consider your household...
Posted by Dennis Jao on 09/18/2022
Married couples can file federal income tax returns jointly or separately. The IRS encourages couples to file joint tax returns, extending several tax breaks to those who file jointly....
Posted by Abundant Wealth Planning LLC on 09/10/2022
Bonuses are considered extra pay and are taxed by the IRS as ordinary income. There are two ways for your employer to determine how much to deduct from your salary.Earning a bonus...
Posted by Taxes Made EZ Inc on 09/03/2022
The state of singlehood also affects your tax filing from the IRS. There are many filing status like single, jointly, divorced, head of household, and a qualifying widow(er) with a...
Posted by Pat Raskob on 08/24/2022
Purchasing a home is often the most important financial decision of our lives, and for most of us, that means getting a mortgage. Mortgages can mean long-term borrowing at a relatively...
Posted by KLSM CPA Firm PLLC on 08/24/2022
How the Internal Revenue Service defines and calculates different types of income affects the taxes you owe. Modified adjusted gross income (MAGI) is one of them. MAGI also decides...
Posted by Pat Raskob on 08/11/2022
Although the alternative minimum tax (AMT) is an alternative method of calculating income tax, the "minimum" aspect is somewhat of a misnomer: the taxpayer must calculate...
Posted by Abundant Wealth Planning LLC on 07/09/2022
The rules for filing alimony income on your tax return changed with the 2019 fiscal year. Alimony income or payments are no longer tax-deductible, and the receipt of alimony is not...
Posted by KLSM CPA Firm PLLC on 07/09/2022
The gaming industry is booming. New sports betting parlors and casinos are popping up all over the country, Las Vegas is booming, lotteries and betting parlors are popular, and online...
Posted by Dennis Jao on 07/01/2022
