Many taxpayers can misinterpret their liability for errors in tax returns, their obligation to file, and the effects of requesting an extension.While calculating tax obligations and...
Posted by Raven Skylar Tax & Consulting, LLC on 06/11/2021
What is a collection due process?If you have an unpaid debt with the Internal Revenue Service (IRS) that has not been settled, the IRS may conduct collection activities. The IRS uses...
Posted by Raven Skylar Tax & Consulting, LLC on 06/06/2021
Many people are guilty of not updating their W4 for a long time. W-4, for many people, is like a set-it-and-forget something, especially if they have no meaningful life-changing event...
Posted by Raven Skylar Tax & Consulting, LLC on 05/30/2021
All American citizens, even if you work on Mars, must pay tax to the US government. With this, one would expect that US citizens living and working in Puerto Rico will also have to...
Posted by Raven Skylar Tax & Consulting, LLC on 05/24/2021
In the past, taxpayers could deduct the costs of preparing tax returns by itemizing their deductions, but the tax break disappeared in 2018 after the TCJA came into force.Admittedly,...
Posted by Raven Skylar Tax & Consulting, LLC on 05/19/2021
Filing your taxes via the itemizing route might appear a little daunting, especially if you do not get the details. When it comes to reducing your tax liability, everyone has two options...
Posted by Raven Skylar Tax & Consulting, LLC on 05/07/2021
Business owners can deduct expenses for using their vehicles for business purposes. For one to qualify for such driving expense deduction, one needs to prove that the trip was business-oriented....
Posted by Raven Skylar Tax & Consulting, LLC on 04/30/2021
Usually, people work harder and save enough money to acquire a home of their choice. However, many cannot keep up with the financial demands due to some unplanned events or circumstances....
Posted by Raven Skylar Tax & Consulting, LLC on 04/27/2021
An Individual Retirement Account (IRA) and a 401(K) are pension accounts with tax benefits. While 401 (k) is typically offered only by employers (which typically match employee contributions),...
Posted by Raven Skylar Tax & Consulting, LLC on 04/21/2021
While many people dread the tax season, we all eagerly look forward to our tax refund from the IRS.Even though typically, the Refund should be around within three weeks, it varies...
Posted by Raven Skylar Tax & Consulting, LLC on 04/09/2021
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
