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
It's tax season! Tax return companies and DIY software vendors work hard to convince individual taxpayers that their services and products are the way to maximize tax refunds or...
Posted by Don Bell Law on 03/31/2021
Tax credit for other dependents is a system designed by Uncle Sam in which relations (nuclear and extended families) can qualify for tax credits. With this credit, taxpayers can get...
Posted by Pat Raskob on 03/31/2021
Energy tax credits for businesses are classified as a dollar to dollar deduction on a commercial organization's energy bills. It is usually done at the federal and state level....
Posted by KLSM CPA Firm PLLC on 03/05/2021
Many Americans do not like taxes. As a result, people do look for everything possible to reduce what they send to Uncle Sam. This is where deductions come in as they help reduce people's...
Posted by Thomas G Kinsella, ATP on 03/05/2021
There are several ways to reduce the tax burden. However, the two most popular are probably tax credits and tax deductions. While they may look the same, they are two very different...
Posted by KLSM CPA Firm PLLC on 02/09/2021
Tax relief is any policy or program from the government to reduce the taxes paid by businesses and individuals. This relief might be universal, or it could target a specific group...
Posted by Thomas G Kinsella, ATP on 02/05/2021
If you owe a US federal income tax, you can claim a foreign tax credit if you are paying income tax to another foreign country. The idea of this credit is to reduce the tendency of...
Posted by McCool's Tax Service on 01/27/2021
What are foreign tax credits?Foreign tax credits are non-refundable income tax credits paid to a foreign government because of income tax. The foreign tax credit is available for those...
Posted by Carmen Garcia on 01/26/2021
