Key Takeaways Understand Multi-State Tax Obligations: Each state has unique tax laws, necessitating knowledge of various sales, income, and payroll tax regulations. Nexus and Sales Tax Compliance: Physical presence or…
Key Takeaways Quarterly Tax Importance: The September 15 deadline is essential for self-employed individuals and small business owners to ensure timely tax compliance and avoid penalties. Potential Penalties: Missing the…
Key Takeaways Understanding small business tax credits is essential for reducing tax liabilities and enhancing financial growth, allowing for reinvestment in your company. Tax credits differ from deductions; they provide…
Key Takeaways Understand Tax Implications: It’s essential to recognize that additional compensation, such as bonuses and overtime, carries specific tax consequences that affect both employees and employers. Withholding and Reporting…
Qualifying for IRS Free File To qualify for IRS Free File in 2025, your adjusted gross income (AGI) must have been $84,000 or less in 2024. Calculate your AGI by…
Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing into U.S. President Joe Biden on Sept. 28, 2023. Jonathan Ernst | Reuters Key Tax…
Chairman Jason Smith (R-MO) speaks during a House Committee on Ways and Means in the Longworth House Office Building on April 30, 2024 in Washington, D.C. Anna Moneymaker | Getty…
Maximize Your Tax Deductions with Student Loan Interest Image by Damircudic | E+ | Getty Images Did you know your student loan payments could benefit you come tax time in…
Social Security Changes and Tax Implications: What You Need to Know Almost 3 million individuals are set to receive increased Social Security benefits due to new legislation signed by President…
The deadline for the fourth-quarter estimated tax payment in 2024 is approaching on Jan. 15. Missing this payment could result in penalties and fees when filing your return, according to…
Pra-chid | Istock | Getty Images Expanded Free Filing Options for 2025 For the 2025 season, Direct File, the IRS’ free tax filing program, will be open to eligible taxpayers…
Tax Implications of Federal Student Loan Forgiveness in 2024 If your federal student loans were forgiven in 2024, you may be wondering if there are any tax implications. Many borrowers…