Manisha Hansraj
Jan 15, 2021What’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 HansrajDec 18, 2020Understanding Joe Biden’s Tax Plan
Many Americans want to know how our future president’s tax plan will affect them. Biden’s tax plan will affect wealthier Americans, corporations, and everyday individual taxpayers. He also plans on making significant tax revisions on Trump’s previous tax plan which took place in 2017. Skip the tax jargon by taking a look at this quick […]
Manisha HansrajOct 29, 2020How to Fill Out the 2021 W-4 Form
The W-4 form has been revamped by the IRS. The IRS’ goal is to simplify the W-4 form to reflect a transparent withholding system. The 2021 W-4 form is still in it’s draft stages, but will most likely reflect the 2020 W-4. Although the 2020 and 2021 W-4 forms appear different from previous forms, we’re […]
Manisha HansrajSep 11, 2020Prepare for Tax Year 2020
The IRS already announced the inflation adjustments for next year. Although the e-file and extension deadline is in a month, the year is almost gone. 2020 has been more than a roller coaster ride, and the next tax season is only a few months away. Many taxpayers may wonder how their stimulus payments affect your […]
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