“Wow, that was fast!” The exact words from one of our client this morning. The direct deposits are happening now.… Read more IRS GET MY PAYMENT
The Treasury Department and IRS have reversed course and recipients of a Form SSA-1099 or RRB-1099 do not need to file a tax return in order to receive their Economic Impact Payment .
The Stimulus bill passed by Congress and signed by the President on March 27, 2020 contains many provisions affecting every… Read more YOUR STIMULUS CHECK
The Stimulus bill passed by Congress and signed by the President on March 27, 2020 contains many provisions affecting every American. The… Read more YOUR STIMULUS CHECK
The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak.
Hiring your child can be soo beneficial to your business & you because it allows you to use your business… Read more HIRE YOUR CHILDREN
When figuring your estimated tax for the current year, it may be helpful to use your income, deductions, and credits for the prior year as a starting point. Use your prior year’s federal tax return as a guide.
Normally, if you purchase a piece of real estate to fix up and sell it at later date, the profit is taxed under the capital gains rules. There are even more favorable rules if the property qualifies as your principal residence. If you live in it more than two years during the five-year period preceding the sale, you can often exclude the gain from taxation altogether under special rules for homeowners.
Grandparents who work and are also raising grandchildren might benefit from the earned income tax credit. The IRS encourages these… Read more Grandparents Caring for Grandchildren Should Check Their Eligibility for EITC
MEDICAL AND DENTAL EXPENSES
You can deduct most expenses relating to medical or dental diagnosis,
treatment or prevention as long as those expenses are in excess of
7.5 percent of your adjusted gross income (AGI).