Taxpayers should include tax plans in their wedding plans Couples getting married this year know there are a lot of details in planning a wedding. Along with the cake and gift registry, their first tax return as a married couple should be on their checklist. The IRS has tips and tools to help newlyweds consider… Read More »
All taxpayers should plan ahead for natural disasters Floods, wildfires, hurricanes, tornados and other natural disasters happen quickly and often with little warning. No one can prevent these disasters from happening, but people can prepare for them. Here are some things taxpayers can do to help protect their financial safety should a disaster occur. Taxpayers should: Update… Read More »
Home office deduction benefits eligible small business owners Small business owners may qualify for a home office deduction Click here that will help them save money on their taxes, and benefit their bottom line. Taxpayers can take this deduction if they use a portion of their home exclusively, and on a regular basis, for any of… Read More »
It’s not too late to check IRS payment options IRS offers taxpayers convenient, secure ways to pay their taxes throughout the year. Taxpayers can pay: Online By phone With their mobile device using the IRS2Go app Additionally, some taxpayers must make quarterly estimated tax payments throughout the year. These taxpayers may include sole proprietors, partners, and S-corporation… Read More »
The Tax Cuts and Jobs Act (TCJA) changed certain rules for accrual-method taxpayers. Previously, taxpayers who used the accrual-method generally needed to include income in the year in which all events had occurred that fixed the right to receive income and the amount could be determined with reasonable accuracy, the “all-events test”. TCJA revised Section… Read More »
IRS Accepting Applications for 2020 Grants for Low Income Taxpayer Clinics The IRS is accepting applications for Low Income Taxpayer Clinic (LITC) grants for calendar year 2020 until June 17. To apply, download the 2020 Publication 3319, LITC Grant Application Package and Guidelines and view the document, Information for Potential LITC Grantees. For questions about the LITC Program or the grant application… Read More »
Many people claim the child tax credit to help offset the cost of raising children. Tax reform legislation made changes to that credit for 2018 and later. Here are some important things for taxpayers to know. Credit amount. The new law increases the child tax credit from $1,000 to $2,000. Eligibility factors for the credit have not changed.… Read More »
Free Tax Preparation online for USA Here is the list of Free Tax Preparation online for USA Free Tax Preparation online by IRS You can file your FREE federal return with software provided by Internal Revenue Services. You can prepare and file your federal individual income tax return for free using tax-preparation-and-filing software. Let Free… Read More »
2018 Tax Rates and Brackets 2018 Tax Rates and Brackets Rate Single Married, Filing Separately Married, Filing Jointly Head of Household Taxable income over… 10% $0 $0 $0 $0 12% $9,525 $9,525 $19,050 $13,600 22% $38,700 $38,700 $77,400 $51,800 24% $82,500 $82,500 $165,000 $82,500 32% $157,500 $157,500 $315,000 $157,500 35% $200,000 $200,000 $400,000 $200,000 37%… Read More »
Best Tax Advisors near you in USA Here are list of webSites from where you can find best Tax advisor near You in USA Yelp online to search Best Tax Advisors Click here to search Best Tax Advisors Near you in USA using yelp online service. Yelp was founded in 2004 to help people find great… Read More »