admin

Nov 7, 2022

Child Tax Credit 2022

The Child Tax Credit 2022 is a powerful tax tool that can save your taxes. The Child Tax Credit 2022 is now worth up to $2,000 per qualifying child and used to reduce the tax you owe.

admin

Sep 9, 2022

Updates on Student Loan Forgiveness

As higher education costs continue rising, many students struggle to repay their loans. US Government proposes a new income-based repayment and Student Loan Forgiveness plan to make the lending process more manageable for future borrowers.

admin

Aug 16, 2022

How to Prepare your Education Tax Credit

Are you or is your dependent a student? Then you might want to determine whether you qualify for one of two education tax credit covering typical student expenses. You can skip paying federal income taxes if you use an education tax credit to cover expenses other than the money in a 529 college savings plan.

admin

Jun 9, 2022

How Do I Report Taxes on Tip Income for my Tax Return?

How to report taxes on tip Income for my Tax Return. If you are a server or barista making tips, you need to know how these tips will factor into your taxes. You report taxes on tip just like you report taxes on the rest of your income.

Tax Deduction for Homebuyers and Home Sellers

admin

Jun 3, 2022

Tax Deduction for Homebuyers and Home Sellers

If you were a homebuyer or home seller in the past few years, your tax filing will be different compared to the years before. Here is what you need to know about the changes to expect.

admin

Apr 6, 2022

Filing Taxes When Unemployed

Filing tax when unemployed guidance to help taxpayers better understand what types of income may be taxable when their form W-2 is not issued because they have lost their job or are not working.

admin

Nov 8, 2021

2019 Tax Calculator

If you need to file back taxes for 2019, a tax calculator is something you’ll want to have in your back pocket during the process. A federal tax calculator for the 2019 tax year will give you an estimate of what your tax liability was for that year and can help guide your next steps.

admin

Nov 3, 2021

FILE 2019 TAXES

Now that you’ve decided to get back on track with your tax filing obligations, where to start? The first step to filing any prior-year tax return, including your 2019 taxes, is to gather all the information you will need.

Manisha Hansraj

Jan 15, 2021

What’s New for the 2020 Tax Year?

Here’s the breakdown of all the changes. Standard deduction For the 2020 tax year, the standard deduction amounts have increased. Here are the amounts below. For taxpayers who are blind or at least 65 years old, they can claim an additional standard deduction. The standard deduction is $1,300 and $1,650 for the single or head […]

Manisha Hansraj

Jan 11, 2021

What is Form 1099-NEC?

For the 2020 tax year, there’s a new income statement. The IRS has introduced a new form called Form 1099-NEC. Whether you’re well versed in reporting your taxes or not, this may be confusing. Typically, your self employment income is reported on box 7 of your 1099-MISC statement. For the 2020 tax year it is […]

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