More than 80 million tax returns were filed with the help of a tax professional in 2019. Were you one of the Americans who used a tax professional? Were you prepared for your tax consultation? Were you happy with your representation? Did you use a tax accountant or another professional? If you have a pro […]
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If you are still married on December 31, 2019, you may file MFJ (married filing jointly) or MFS (married filing separately). It’s best to calculate your taxes both ways to determine which way yields the best tax advantage; it may make sense to you to file separate tax returns, but it’s usually not advisable due
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Worried about filing taxes late? We will walk you through each situation you may have and look at what options you may have. Don’t know what penalties you may owe the IRS? Here’s a quick look at the penalties you may incur: Failure to pay: 0.5% up to 25% Failure to file: 5% up to
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Do you owe the IRS money instead of the other way around? You may be caught off guard if you receive an unexpected tax bill. The first thing you should do is double-check your tax return. Is it right? Why is this debt unexpected? Dig a little deeper; find out what you did differently this
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Will you be missing tax filing deadlines? All tax deadlines for the tax year 2019 are listed here. This article will guide you in the right direction if you find that you will be filing your taxes late this year. The simple steps presented here will help you get back in good standing with the
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The recent Tax Cuts and Jobs Act saw the corporate income tax rate declining from 35% to 21%. Taxation of income has significant benefits on the American economy. However, it is essential to note that not all income is taxable. Income can be in the form of services, property, or money. The IRS has outlined
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When you think of a tax consultant, what do you envision? A service for the rich and wealthy, right? Something you don’t need to bother yourself with? This could not be further from the truth! For most people, filing taxes is one of the most daunting tasks they have to do. The fact that tax
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Look Out For These 5 Changes When Filing Taxes For Your Federal Refund The 2019 tax season marks the second year of the new tax code. In 2017, the United States government passed the Tax Cuts and Jobs Act (TCJA). Across all tax brackets, the average federal tax obligation decreased by $1,750. Many corporations and
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