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10 Tax Deductions That Could Trigger an Audit Introduction Navigating the world of tax deductions can be tricky. While they can significantly reduce your tax liability, some deductions can also raise red flags with the IRS. Discover the top tax deductions that can save you money while navigating potential audit triggers. Overview Tax deductions are […]
“4 Essential Tips: Should You File a Tax Amendment After Your Refund?” Introduction Discover the ins and outs of filing a tax amendment, even after receiving your refund. Overview Ever filed your taxes, gotten your refund, and then discovered a mistake? It happens to the best of us! But should you amend your tax return […]
Unlocking Tax Savings: The State and Local Tax Deduction (SALT) Discover how the SALT deduction can lighten your tax load and keep your wallet happy. Introduction: Navigating the SALT Waters Tax season—it’s like a rollercoaster ride through a maze, isn’t it? And just when you think you’ve got it all figured out, along comes the […]
Can You File Taxes Without Your 1099-NEC? Missing 1099-NEC? If you are a freelancer, contractor, or self-employed worker, you may have received a form called 1099-NEC from your clients or payers. This form reports the non-employee compensation that you earned during the year. You need this information to report your income and pay taxes on […]
When Will the Child Tax Credit Bill Pass? What You Need to Know The child tax credit is a tax benefit that helps millions of families with children. But what is the status of the bill that would expand it? Here’s what you need to know. What is the Child Tax Credit? The child tax […]
Maximize Your Impact: Charitable Items and Stock Donations Deduction Unlock the potential of your donations! That’s right, we’re talking about charitable item and stock donations deduction. Are you looking for ways to make a positive impact on the world while also reducing your tax liability? If so, you’re in luck! Charitable item and stock donations […]
How to Report Your Business Income to the IRS Are you a business owner looking to understand what constitutes business income according to the IRS? Look no further! In this article, we’ll break down the definition of business income and provide you with tips on how to report it properly. What is Business Income? First, […]
11 States Eyeing Your Social Security Benefits in 2024 Are you aware that your Social Security benefits might be taxed? Yes, you heard it right. In 2024, there are 11 states that have plans to tax Social Security benefits. If you receive Social Security benefits, you may not have to pay federal income taxes on […]
Maximizing Tax Benefits: Understanding How Your HSA Impacts Your Taxes Introduction: Greetings! Do you want to learn how your Health Savings Account (HSA) impacts your tax situation? If so, you’ve come to the right place because we’re going to explore this topic and reveal all the essential information you need to manage your taxes with […]
IRS Common Law Marriage: What You Need to Know Are you married in the eyes of the IRS? If you live in a state that recognizes common law marriage, you might be surprised to find out that you are. In this blog post, we will explain what common law marriage is, how it affects your […]