by Admin | Mar 15, 2021 | Individual Taxes
As tax time approaches, here are some tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits. Of course, not everything can be included since the tax law has grown significantly in complexity, and it would...
by Admin | Mar 11, 2021 | Individual Taxes, Tax Scams
As if this past year with all of its pandemic perils has not been stressful enough, the Office of the Inspector General for the Department of Labor has just added to our anxieties by announcing that at least at least $36 billion and possibly as much as $63 billion has...
by Admin | Mar 9, 2021 | Individual Taxes
Filing status is determined on the last day of the year and most often is based on marital status. The two most prevalent are as follows: Single – Unmarried individuals without dependents.Married Taxpayers Filing Jointly (MFJ) – The couple combines their incomes,...
by Admin | Feb 23, 2021 | Business Taxes, Individual Taxes
March 10 – Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 10.Your employer is required to withhold FICA...
by Admin | Feb 22, 2021 | COVID-19, Individual Taxes
Obviously, the still-ongoing COVID-19 pandemic has been a major challenge for all of us since it kicked into high gear in March of 2020. In the months since, millions of people have found themselves out of a job and the ones that remained were suddenly faced with...
by Admin | Feb 3, 2021 | Individual Taxes
As a means to stimulate charitable contributions during the COVID crisis, Congress made two notable changes for 2020—one allowing taxpayers that don’t itemize their deductions an above-the-line deduction for cash contributions of up to $300 and another for those...
