IRS Wants You to Know About Schemes, Scams and Cons “If it sounds too good to be true, it probably is!” Don’t become a victim to any scheme that offers instant wealth or exemption from your obligation as a United States citizen to file tax returns and/or pay taxes. Some of these schemes can literally […]
Tax Fraud Alerts From IRS Read More »
Modified Adjusted Gross Income (MAGI), is a crucial figure in the tax world. It’s used to determine eligibility for certain tax deductions and credits.
MAGI (Modified Adjusted Gross Income) Read More »
Net Investment Income Tax is a tax of 3.8% on certain investment income for individuals, estates, and trusts with income above set thresholds, introduced by the Internal Revenue Code section 1411.
Basics of The Net Investment Income Tax Read More »
The government is giving money back to people who buy eco-friendly cars. Here’s a guide of the clean vehicle tax credits.
Save Money with Eco-Friendly Car: Clean Vehicle Tax Credits Read More »
Working from home has become increasingly common, and with it comes the potential to deduct home office expenses on your tax return. Here’s a simple guide.
Work From Home and Tax Benefits: Home Office Tax Deduction Read More »
Texas franchise tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas. Let’s see how it works.
May 15th? Time to Report Texas Franchise Tax Read More »
Let’s explore the concept of standard deduction and itemized deductions. We’ll provide a simple and concise explanation of these terms and illustrate with examples to help you determine which option might be more beneficial for you.
Which One is Better for Me? Standard Deduction or Itemized Deductions Read More »
When you sell your primary residence, you may be subject to capital gains tax. However, IRS provides certain exclusions that can help you reduce or even eliminate this tax.
Capital Gains Tax on the Sale of Your Primary Residence Read More »
While some states levy a hefty income tax, others offer a tax-free haven to their residents. This article will explore the nine states that do not impose an income tax.
Tax-Free Paradises: No Income Tax States in the USA Read More »
Innocent spouse relief can help you not have to pay extra taxes if your spouse didn’t pay enough taxes on your joint tax return and you didn’t know about the mistakes.
Innocent Spouse Relief: A Lifeline in Tax Troubles Read More »
