Gathering records before preparing tax return makes filing go smoother. As taxpayers are getting ready to file their taxes, one of the first things they’ll do is gather their records. To avoid refund delays, taxpayers should gather all year-end income documents before filing a 2019 tax return. It’s important for folks to have all the
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Small business owners should find out if they can benefit from claiming this deduction. The home office deduction can help small business owners save money on their taxes. Taxpayers can take this deduction when they file their taxes if they use a portion of their home exclusively, and on a regular basis, for any of the following:
While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file but will need to do so if they can get a tax refund. Five Tips for Taxpayers Who are Deciding Whether to File
The earned income tax credit benefits working people with low-to-moderate income. Here are a few things people should know about this credit.
Certain transactions can affect tax withholdings and influence the taxpayer’s anticipated refund.
The tax law change covered in the revenue procedure was added by the Taxpayer First Act of 2019, which increased the failure to file penalty to $330 for returns due after the end of 2019. The new penalty will be adjusted for inflation beginning with tax year 2021. The tax year 2020 adjustments generally are used on tax returns filed in 2021.
Be on the lookout for new variations of tax-related scams. The latest is with SSN!
Whether you are a veteran in your career or you are working an hourly job you still have time to contribute to your Traditional IRA if you were under 70 years and 6 months old by the end of 2019 and receive taxable compensation. IRA or individual retirement accounts are alternative to employer-related accounts. If
If you are starting business, there are so many things to consider, and taxes are one of the major ones.
Be knowledgeable about the tax deductions you are taking. The wrong ones can get you into trouble.
