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Looking to make charitable donations in 2023 and take advantage of tax deductions? So, this guide is here to help you navigate the rules and regulations around tax deductible donations. In this article, we'll cover everything you need to know about charitable donations, including: What is a charita...
The child tax credit 2023 has seen a significant cut-off as compared to the 2021 benefits under Covid special provisions. 2021 was the year when even those families received the benefits who were not eligible because they had zero income....
As a seasoned tax expert with years of experience, I've seen the accounting landscape undergo countless transformations. One thing that has remained constant, however, is the murky distinction between employee and independent contractor status, and the subsequent tax implications that come with it. Thankfully, the IRS has provided s...
Ah, tax season. The most wonderful time of the year, right? Well, maybe not. With the 2022 tax return deadline quickly approaching on April 18, 2023, it's important to be aware of the potential penalties you may face if you don't file your taxes on time. But fear not! You can avoid the late filing penalty by simply fil...
The Alternative Minimum Tax (AMT) is a tax system that ensures wealthy individuals pay their fair share of taxes. This system operates alongside the regular income tax system and requires taxpayers to calculate their tax liability twice – once under the regular system and again under the AMT system. In this articl...
The IRS has announced that it will offer Saturday hours at many of its Taxpayer Assistance Centers across the country, as part of its efforts to improve customer service during the tax season. The special Saturday hours will be available on March 11, April 8, and May 13, from 9am to 4pm Walk-In Service Without Appointments D...
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