Tax Preparer
Ponchatoula Louisiana 70454
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If you are a freelancer, run a small business, work for yourself, or have a side gig in 2021, it is essential to file IRS Schedule C come tax time. This article sheds light on what...
One of the latest tax rules entrepreneurs should know about is the Qualifying Business Income (QBI) Deduction. The deduction, also known as Section 199A, is a 20% deduction available...
Each year, the vast majority of taxpayers file their returns with the IRS between the end of January and the April due date and other filing dates.However, the Internal Revenue Service...
Capital gains are a different type of income from normal corporate profit income. Capital gains taxes come into play in the sale of a business because the capital assets are being...
When you buy personal effects for your business, such as a car or a computer, that last more than a year, you should gradually deduct the cost over several years. This process is called...
In estimating the business use of a vehicle, there are two methods. One needs to calculate the vehicle expenses using each mode and select the most significant deductions approach. The...
Most people have little experience of what happens after the death of a loved one, yet they are appointed as a personal representative or executor to settle the estate. This guide...
Classroom decoration, books, additional teaching materials, party supplies, and occasional gifts are common classroom expenses for K-12 instructors. Do you have to bear the costs of...
Tax season is here, and replacing your annual tax return has never been easier. Your annual security benefit statement, also known as SSA-1099 or SSA-1042S, is a tax form sent out...
The financial abuse of the elderly is becoming more and more intense and increasing rapidly every day. This horrible problem is common among the rich and famous and is becoming a problem...
When someone brings up the subject of homeownership, they have to think about several expenses. Of course, the mortgage payment is one of the first things that comes to mind, but there...
The required minimum distributions (RMDs) of IRA and other qualified retirement plans are more complicated than they should be. Several little-known rules can help or cause taxpayers...
As the tax deadline approaches, many people are fond of frantically ransacking their home for various receipts to support their claim for a refund from Uncle Sam. Many people discover...
Legal fees are deductible if business expenses are incurred. The deduction can be claimed on corporation returns (for example, in a partnership form 1065) or directly on Schedule C...
Classifying assets between liabilities and non-liabilities is not an easy task. This can often determine whether a current income deduction is received or what tax rate should be applied....
What are itemized deductions?Itemized deductions are a list of expenses that you can use to reduce taxable income on your federal income tax return. These include medical bills, taxes,...
The beneficiaries of a trust generally pay tax on the distributions they receive from the trust income, then the trust pays for the tax itself. However, these beneficiaries are not...
If you sell stocks, mutual funds, or other assets that you have held for at least a year, any profit from the sale will be taxed at the rate of 0%, 15%, or 20%. These long-term capital...
There are two ways that equity investors make money. Ideally, the price of the stocks you hold increases, giving them a profit when they sell them. Some stocks pay dividends to shareholders...
All employers are expected to pay their taxes and send in taxes from their employees' wages. Employment taxes come in various types, and the employer will have to withhold, file...
Due to the global pandemic and related restrictions, donations to charities are needed more than ever. And with a charitable tax deduction, your magnanimity will be rewarded.Charitable...
The tax system is something that concerns and unites every American irrespective of differences. Also, all Americans will gladly embrace any means to reduce their tax.A Valued added...
A "fringe benefit" for employees is a form of payment other than cash for the performance of services by employees. Any fringe benefit granted to an employee constitutes...
An accountable plan is a plan that complies with the Internal Revenue Service (IRS) rules for reimbursing workers for business expenses if the reimbursement is not considered income....
It is the last day of 2020, and the IRS encourages taxpayers to take the necessary steps in the final days of the year to file federal tax returns in a timely and correct manner before...
For people in the line of work where they receive tips typically, money is an essential part of their income. The internal Revenue Service, however, makes it compulsory that tip...
It is not only Uncle Sam that wants a slice of your paycheck. Some states also levy their citizens some percentage as a paycheck. They use the revenues from such tax to provide public...
In the US tax system, income taxes are progressive, so you pay different types of taxes. Knowing the federal tax brackets for fiscal 2020 and 2021 can help you maximize your tax savings...
The sole purpose of anyone venturing into business is to make a profit. There are, however, times when a company cannot make a profit. In such cases, a tax deduction comes as a saving...
After the publication of the TCJA, it was evident that several areas of the new law needed clarification. One of the laws that need clarification is the meal and entertainment expenses...
The IRS, in conjunction with the Treasury Department, has released final regulations containing changes from the TCJA (2017). With these rules, taxpayers can determine discounted unpaid...
There are times Uncle Sam might be authorized legally to confiscate a taxpayer’s property. They do this to take care of tax liabilities. It should be noted that a levy stands...
The high deductible and Health Savings Account insurance plan is seen more and more frequently. The Health Savings Account covers qualified medical expenses, and has certain...
Getting a job, or a new one, is an important event & decision that requires a change in your personal and professional life, but when the opportunity arises, especially with great...
What is unemployment compensation?The state pays unemployment benefits to unemployed people who have lost their jobs due to retrenchments or layoffs. It aims to provide a source of...
Railway workers have the right to participate in a federal retirement and disability program similar to social security. However, the railway pension scheme offers different and fairly...
There are times a taxpayer might owe a debt. This gives the IRS the power to seize their tax refunds. There are many forms of such debts that a taxpayer might owe. As a result, a couple...
The CTC (Child Tax Credit) is intended to increase the income of parents or guardians of children and other dependents. It only applies to dependents under 17 years of age on the last...
There was a historic adjustment made by the Tax Cuts and Jobs Act (TCJA) to the federal tax code. Although this triggered a significant tax break with many business entities, many...
The key to succeeding in bitcoin and stock trading is the understanding of charts. Not being knowledgeable about trading patterns could make you lose money. Bitcoin Trading The...
Divorce is expensive: it consumes your time, energy, emotional expenses, and, of course, legal costs. And while assigning assets between spouses due to divorce has no tax consequences,...
Homeownership remains a critical aspect of the American dream and there are several things you should know about federal and state grants, tax credits, and other options that are designed...
There are many forms of debt people might owe the IRS. It could be back taxes, unpaid taxes, or income taxes. Back tax is becoming a more significant issue as many people find themselves...
For people over the age of 65 or those into retirement as a result of disability, they might be eligible for a clear tax credit targeted at the seniors and disabled of the country.It...
If you owe back taxes, chances are you will have to deal with tax liens and tax levies. This article explores how a tax lien can affect you and tips to get rid of it. Note: In...
The coronavirus pandemic is not just a public health crisis. It has also ensured in the loss of millions of jobs, and a large part of the economy ceased socially in the spring of 2020....
Some people have no issue dealing with the IRS. Every year, they file their tax and either send in their balance later or get their refund. However, this is not the case with many...
Thanks to real estate agents, you no longer have to deal with the complexities of buying and selling a home. As a client, real estate agents who are licensed professionals generally...
President Trump on March 18, 2020, signed the Families First Coronavirus Response Act (FFCRA) into law on March 18, 2020. It was designed to help employers provide sick leave benefits...
Many parents, in a bid to secure their kid's financial future, do anything possible. It is understandable as the cost of college rises year in year out. Besides, only a few students...
It is normal to freak out at the idea of getting out of service. It is normal to dread retirement as it is a complete change of lifestyle. Think of it, the fear of the unknown in terms...
The entire world is battling with the unseen enemy, and nations around the world are coming up with new policies to help the citizens. In response to the financial hardship that the...
A couple of days ago, there was an 18.57% leap in the price of bitcoin to an all-time high figure of $9,388.30. This is good news and hopes to people, amidst the tragedy of COVID-19...
The Taxpayer Advocacy Panel advises the IRS on how to improve their service and make recommendations on behalf of American Taxpayers. The purpose of this panel is to recognize, identify,...
There are plenty of people who can help you with your financial situation whether it has to with budgeting, making more money or investing. In fact, you can find them all hanging out...
Tax return mistakes are costly. It is best to avoid errors on your return to avoid owing more taxes, interests, and penalties and more importantly to avoid being audited by the Internal...
Filing for bankruptcy is a critical decision that needs careful thoughts. Yes, it comes with some pros in that it can deter your creditors and alleviate your debt; the blow on your...
A lot of people want their tax refunds to be in their palms as quickly as possible. Don't lose your patience while waiting for your tax refunds. There are available plans offered...
A stretch IRA is a means of limiting required distributions on an inherited IRA when then helps avoid a sizable tax bill in the process. An account holder can name children, grandchildren...
Tax subsidies are the end result of selective tax legislation that is advantageous particularly to groups of people or industries in the economy. By decreasing the costs associated...
In a bid to support low-income earners, the federal government, with the support of some state of the U.S., came up with the Earned Income Tax Credit (EITC). The aim is to support...
The end of the year is usually a busy period for many firms – both small and big businesses. If you are a smart business owner, it could also be a time to take advantage of a...
It feels somehow having to share your hard-earned money with the government as tax. However, the bright side for many people is that they will get a tax refund. And the IRS has been...
Every New Year is characterized by new resolutions that involve financial goals as well. It is, however, unfortunate that many people let go of the zeal to pursue their New Year resolution...
It is essential to make monetary preparation for your retirement. This explains the reason for a retirement account and why there are penalties when you withdraw early from such an...
Every day in 365 days in a year, there are a lot of fraudulent calls that people or subscribers will receive. Such as: Hello, this is Medicare calling. Your coverage is about to be...
You'd have to believe this season is the best time to score shopping deals on festive holiday advertisements and store promotions. That's true in some cases. But many retailers...
Employers and employees all make contributions for retirement purposes every year. Internal Revenue Service is responsible for the collection of taxes and the enforcement of tax laws....
As a retirement period approach, many people are usually carried away with plans for their new world. They consider many things they can do and the excitement of not being tied to...
Self- employment indeed offers plenitude perquisites but it also does have its disadvantage: you will lose an employer-sponsored retirement plan like a 401(k).Set foot in the Solo...
It is indeed a very frustrating circumstance for investors when the stock market goes down. But amidst this gloomy situation, here comes an upside strategy which will increase your...
Is social security taxable? The most straightforward answer is yes, social security is subject to tax. The obligation or payment of other taxes on social security benefits depends...
The Bureau of Labor Statistics of the United States has said that the consumer price index (CPI) rose 0.1% in August, after rising 0.3% in July. This is what it means for taxpayers...
Tax season is getting near in the United States and if you want your tax filing to go as smooth as possible, now is the best time to put things in order. In this article, we will share...
Business credit may open doors to greater amounts of capital, but it takes time to build.Trying to manage the day-to-day operations of your business is already big enough on your plate...
At the point when the Southern climate becomes hot, it's the ideal opportunity for the seasonal travelers to consider their relocation back north. Numerous people make a lot out...
Tax season might be at an end for most taxpayers. However scammers aren't easing up. The Internal Revenue Service (IRS) as of late cautioned taxpayers and tax preparers about...
The points paid when you appended in a mortgage to purchase your home may reduce your government tax bill. With points, at times referred to as rebate points or loan beginning points,...
On December 4, 2015, President Obama marked into law Public Law 114-94, Fixing America's Surface Transportation Act (FAST Act). The FAST Act finances surface transportation programs—including,...
With the rising impact of the internet and information and computer technology in the work environment, more individuals are telecommuting. Notwithstanding dodging long drives and...
Moving abroad for retirement is an exciting chance to reboot your life, and furthermore offers privileges to diminish the expense of retirement. Nevertheless, it's a smart thought...
Peradventure you are among the taxpayers expecting a refund this tax season, hang on a bit: A fat check from the Inland Revenue Service isn't uplifting news. The taxman commenced...
The House of Senate passed by voice vote H.R. 3151 on June 13, the Taxpayer First Act of 2019 (the Act). The Senate-passed measure or Taxpayer First Act of 2019 is indistinguishable...
There are always consequences whenever bitcoin will be sold, bought, or traded. Bitcoin and other virtual convertible currencies should be treated as property, not as currency according...
What if there is a way to protect your portfolio without giving up big gains and income? Will you be interested? Well, it is understandable if you will be but a little skeptical. In...
In order to protect taxpayers, tax professionals, and third parties against identity theft, the Internal Revenue Service said Tuesday that on June 28 it will no longer be faxing tax...
If you pass away, you probably think about how life insurance can help protect your family. But what if you lived longer than you expect? You have to find a way to be able to live...
The 2018 deadline for filing of individual income tax returns around the corner, taxpayers should take note of the Internal Revenue Service (IRS) recent announcement of expanded relief...
You don't need to be wealthy to be an investor. In actuality, there are a lot of approaches to contribute a little amount of cash. The key is discovering speculation openings...
Court of Appeals for the Ninth Circuit of The United States is a U.S. Federal court with appellate jurisdiction over district courts.The Ninth Circuit has her Headquarter in San Francisco,...
With regards to properties on financial investment, there are two noteworthy schools of thought: purchasing a house in cash versus a mortgage. This is an endless discussion among speculators...
Form 8606: Unconditional IRA is a tax form distributed by the Internal Revenue Service (IRS) and used by taxpayers unconditionally contributing to an IRA. A different form must be...
Each state has guidelines for calculating spousal support. However, these are usually just guidelines. Whether the spousal's support is granted or not depends solely on the judge....
You can apply all (or some) of the tax refund of 2019, to next year's taxes. When you return to your taxes in 2020, the amount applied will be displayed as a credit. When you...
You can think of financial freedom as a video game. You have to go through 8 levels to get financial freedom. What does financial freedom mean? This is when your income is higher than...
You could be one of those that says, "I don't need Trust, I don't have a property that doesn't need sophisticated planning. It's costly and complicated. So...
Student loans are not just a nuisance for graduates today. More than 44 million Americans together have student debt of $ 1.5 billion. There is a good chance to include you are included.Wouldn't...
Taxpayers can take the credit for taxes they paid to another state on a Part-Year or Nonresident return only if the wages that were actually taxed by another state is included to the...
You could be one among the many taxpayers who might receive a notice from the IRS every year. The notice could be a piece of information or something that requires your attention....
The Internal Revenue Service (IRS) does not reject many tax extension applications. However, there are many reasons why the IRS doesn't accept some tax extension applications....
As costs generally is rising; with basic costs of education, housing, and clothing unwaveringly marching upwards, saving for children has now become the most important thing to do....
Protection from identity fraud is quite essential as personal details such as your email address, name, mobile number, social security number, passwords, and other information...
Numerous businesses all over the nations are responsible for the retention of certain taxes from the earnings of their employees and sending those funds to the IRS. The Internal Revenue...
Brief History of WayfairOn June 21, 2018, the Supreme Court rendered an opinion on South Dakota Wayfair, Inc. The courts' rule was in favor of South Dakota against Wayfair and...
Understanding Business Accounting and how to incorporate it into your businessIf you have just launched your business or are about launch one, congratulations! It takes passion and...
There is always a chance that you pay for everything but later onwards you realize that there are certain tax deductions to which you were eligible. These unusual tax deductions will...
No matter wherever you run, you cannot avoid to pay taxes specially in a country where the law is quite strict. You may be able to get away with it initially but eventually you will...
If you have just started your business, you do not need to worry a lot about how to get started. A business can be small or big, but in this article, we will be reading about the accounting...
If you owe money to a creditor or a collection agency and you get an offer for the settlement of the debt, then it is called as a debt settlement offer. If you get a debt settlement...
When you are talking about how new tax laws affect vacation home owners then know there are some rules which you have to follow. The techniques and the rules have to be there when...
Tax payers who think about adopting a child will have to pay the taxes but the good news is that they can qualify for the adoption tax credit. People who adopt a child easily qualify...
Before you reach out to the tax preparer for tax help, it is important that you learn about the tax liens and levies by yourself. Until the time they may be paying returned the debt,...
When it is the time of taxes, you should be aware of payroll tax delinquency since it will have a huge impact on your tax returns. You need to be straightforward tot the expert so...
What is the IRS Matching Process?Each year employers, banks, and brokerages submit their reports to IRS. The prepared income tax return must include very important information...
Businesses, just like dependent or independent individuals are indebted to pay numerous kinds of taxes. Some of the business taxes are easier to understand and some are complicated....
Capital gains are beneficial for the ones who have their own business and have to make the payments for taxes as well. Every year, there is anxiety about paying the taxes which mostly...
Cancellation of debt or COD happens at a time when a creditor relieves the debtor from the pressure of a compulsory debt. It is possible for the debtors to negotiate with the creditors...
Most of us realize (or we should) that even though our accountant prepares our taxes, we’re still on the hook for what is reported, as much as we hate to think about the topic....
A sudden and a quite dramatic market meltdown occurred to bitcoin and other major cryptocurrencies. Bitcoin may have gained steadily for weeks but it dropped in price by more than...
While Medicare can be an advantage, it may turn out to be a disaster for a lot of people. Following are the things which you need to know about Medicare. 1. Begin anticipating...
An Immediate Annuity can be an answer for a huge number of the wage necessities. The consolidated certification, security, and adaptability offered by an immediate annuity make it...
If you run your own business, then your children can play a great role in saving you from paying taxes. More than that, you will be amazed to know how hiring your kid is good for new...
Nowadays, there are so many people who are trying to begin personal business. In case you are one of those and looking to find the best franchise opportunities. Then, the very first...
The IRS has issued a notice 2017-17 on 28th March 2017 and provide proposed procedures. These can be used in particular circumstances to request agreement to modify a method of account....
Some parents are always concerned about the 529 college savings plans and they want to save for their children future. Taking loans for the colleges may seem easy but when it comes...
As it might sound like a simple and easy question but there’re basically various complications that surround the taxes as well as disability benefits. In order to give you the...
When you have all the transactions aligned and everything is in control for the business, know that they have a good book keeper. A bookkeeper helps in recording all the transactions...
When this comes to investments and taxes then all of us have heard that old saying: “It isn’t what you make, it is what you keep.” From the foundation of America,...
When it is about taxes, people are always worried and they do not want it to happen. When the taxes get cut, no one really likes it. There are improvements in the government of USA...
As we talk about the income which you receive annually. There will be different figures for each based on their working hours and their capacity throughout the week. If you have an...
Finding employment can be a distressing and even an acrimonious task that many faces. It has been historically much greater struggle for people with significant barriers to employment....
Betting makes up about 30 to 40 percent of the global gambling market. Those who casually visit casinos are not aware of the rules involved with Sports Gambling and Taxes....
When you think about wealth, you may dream of a particular job with a hefty paycheck. You may daydream about driving a stylish car and fancy dinners. Building Wealth is an important...
Tax Relief Companies try to decrease the sum of interest, back taxes, and penalties owed by different customers. They work for the awareness of taxpayers and become qualified intermediaries...
Inheritance tax refers to the trustees’ control of agree with property consistent with agreeing with record’s terms and for the benefit of the beneficiaries after the settlor’s...
The filing cut-off date to record a Bitcoin taxation. The filing for a Bitcoin taxation, ensure it’s proper for you. Some motives so that you can get the tax extension that is...
Cash flow is often considered as profit, but it is a misconception. Cash flow means the out and in flow of money in a business. Cash flow statements are essential documents for a business....
When you have a go to from the IRS on your employer, you understand that there may be something wrong at your end which they have assessed and surprised you with their visit. The business/organization...
While we talk approximately the recent tax court decisions and developments, people commonly get careworn what is it and need to realize more about it. The high generation of plug-in...
Filing multi-state tax returns can be a bit complicated for people who have lived or worked in multiple states throughout the year. Depending on your circumstances, you may find yourself: •Filing...
For someone who owns their own business, they are considered self-employed and then pay self-employment taxes. These funds then go to towards social security and Medicare. As...
LLCs (limited liability companies) are types of business organizations that every state recognizes. These organisations offer limited liability cover for entrepreneurs, who pay their...
Taxpayers need to know what is meant by Adjusted Gross Income (AGI) when filing their tax returns regardless whether using standard or itemized deductions. A simple explanation is...
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