Home Blogs Category: Tax and Life Changes

Category: Tax and Life Changes

Life changes and your taxes go hand in hand; believe it or not. That being said, it’s easy to forget about your tax return as a newlywed or when you’re welcoming a newborn into the family. Be aware that many of these changes also make you eligible for deductions and credits on your tax return. In some cases, you may need to update your W-4 form as well. PriorTax will keep you up to date on what to do when these life changes occur. You won’t be left in the dark.

Check back here for answers to your questions about how these changes affect your taxes.

 

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Itemized Tax Deduction

Standard vs Itemized Tax Deduction

If you have ever carefully listed out your itemized tax deductions before, especially if you own a home, consider a different approach now.

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student debt forgiveness

Updates on Student Debt Forgiveness: February 2024

The Biden Administration is Forgiving $1.2 billion in Student Debt Forgiveness for 153,000 Borrowers. 

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Tax Deadline for Businesses You Need To Know

When it comes to tax deadline for business partnerships (such as multi-member LLCs) and S-Corps, the usual timeframe is by March 15

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weekend tax

Can You File a Tax Refund on a Weekend?

On weekends, taxpayers can anticipate the processing of their tax refunds by PriorTax and our dedicated tax professional, although they should still expect the weekend tax refunds to be processed within the typical operational timeline.

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2024 efile

The 2024 E-File is Now Open. File Early with our Free Dedicated Tax Professional

We began accepting and processing the 2024 Efile tax returns the 2023 taxes. Nevertheless, it begs the question: why delay such an important task?

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business tax deadline

2024 LLC Business Tax Deadline

LLC business entity allows for flexibility in business tax deadline and tax filing and payment methods.

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tax deductions

8 Very Commonly Overlooked Tax Deductions and Tax Credits

Taxpayers tend to overlook certain tax deductions, tax credits, and even tax exemptions that can help them pay less in taxes.

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1099-K

1099-K for TPSO Reporting Delay For Tax Year 2023

The IRS has announced a postponement of Form 1099-K reporting requirements for third-party platforms in 2023

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2024 New Tax Brackets

2024 New Tax Brackets

The Internal Revenue Service has taken steps to ensure that the new 2024 tax brackets reflect the current consumer price index. This 5.4% upward adjustment

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tax planning

Basic Tax Planning with 5 Tax Strategies & Tax Filing Approaches

Fundamental 5 Tax Strategies & Tax Filing Concepts to an effective Tax Planning and Filing, such as being aware of your taxable bracket, etc.

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