Category Archives for F.A.Q
Tax Breaks When Moving to Take Your First Job
There are Tax Breaks when Moving for Your First Job! If you meet the criteria for the “distance test” you can deduct the cost of hiring movers and traveling to a new home. If you are moving
Read MoreClaiming the Saver’s Credit on Your Tax Return
Save Twice with the Saver’s Credit, on Your Tax Return If you are a low-to-moderate income worker, you can save two ways for the same amount. With the saver’s credit, you can save for your retirement
Read MoreThe Least Tax-Friendly States in the U.S.
Depending on where you live – or own property – high sales taxes, income taxes, property taxes or gas taxes could slowly drain your funds every time you pull out your wallet, costing you thousands
Read MoreTrust Fund Recovery Penalty
Trust Fund Recovery Penalty Every business is expected to submit the necessary employee-related tax deposits to the IRS every year. If a business doesn’t pay these taxes, the IRS will issue a Trust Fund
Read MoreHow Trump’s Tax Reform Will Affect Businesses in 2018
In 2018, American business owners will be paying taxes according to the new tax rates. The tax plan coming into effect in 2018 contains a number of changes that may impact pass-through entities such as
Read MoreSave Twice with Saver’s Credit on Your Tax Return
If you are a low-to-moderate income worker, you can save two ways for the same amount. With the saver’s credit, you can save for your retirement and save on your taxes with this special tax credit. If
Read MoreThe New Tax Law and Retirement Planning
Tax lawyers, accountants and financial planners are all trying to figure out all the changes in the new tax law. The IRS employees have been given less than two weeks between the day President Trump signed
Read MoreFlorida is One of the Most Tax-Friendly States
The Sunshine State is well known for not having a state income tax, and its property taxes are below the midpoint for the U.S. While sales taxes are somewhat high, Florida is one of the top ten most tax-friendly
Read MoreProposed Tax Bill Congress Threatens Retirement Savers
A major change could be coming to Roth IRA conversion rules, and the deadline to capitalize will be the end of the year.Buried inside the proposed tax legislation bill is a line item that would eliminate
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