Whenever you see a dollar from a lottery win, please remember that the IRS has taken its 25%. Up to 13% can be withheld in local and state taxes (depending on where you live). However,...
Posted by Pat Raskob on 09/30/2021
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
Tax filing this year got more stressful than ever. There are changes in all the federal tax code made by the 2017 Tax Reform Law which they need to conform with. Part of the modifications...
Posted by Taxes Made EZ Inc on 04/03/2020
What is the severance tax?The severance tax is a state tax imposed on the extraction of non-energy natural resources for consumption in other states. These natural resources include...
Posted by Taxes Made EZ Inc on 02/27/2020
Almost every gambler looks forward to winning when they bet on a sport. Unknown to most gamblers; however, the taxman also wants his cut. Uncle Sam considers sports betting winning...
Posted by Karen Munoz, EA on 10/30/2021
It is common for someone to live in one state and have employment in another state. In this case, one might need to file a nonresident tax return if they have earnings in a state they...
Sales taxes are one of the common direct ways to collect tax revenue. Although graduated income tax brackets and rates are complex and confusing for many taxpayers, sales taxes are...
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
Everyone wants a less tax-friendly bill. One way to do this would be to live in a state with no income tax. As of 2019, seven states; Florida, Alaska, Nevada, Texas, South Dakota,...
Posted by Elliot Kravitz, ATP on 04/20/2020