by admin | Aug 13, 2023 | Uncategorized
The Earned Income Tax Credit (EITC) is a federal tax benefit in the United States designed to provide financial assistance to low and moderate-income individuals and families. The EITC was introduced in 1975 as a way to incentivize work and reduce poverty. It is one...
by admin | Aug 13, 2023 | Bankruptcy, Business Entity Taxes, Deductions, Estate, Self Employment
I’m sorry for your loss. Filing a tax return for someone who has passed away is an important responsibility, as it ensures that all their tax affairs are in order. Here’s a general guideline on how to file a tax return for someone who died during the year:...
by admin | Aug 13, 2023 | Uncategorized
Filing for bankruptcy can be a daunting process, but it’s an option some individuals consider to alleviate overwhelming debts. One of the most common misconceptions about bankruptcy is the notion that it’s impossible to discharge tax debts. The truth,...
by admin | Aug 13, 2023 | Uncategorized
When delving into the world of tax and property, one might come across the term “depreciation recapture.” While it might seem intimidating at first, a comprehensive understanding of this concept can help taxpayers avoid surprises during tax season. This...
by admin | Aug 13, 2023 | Uncategorized
Deducting miles for business purposes is one of the more common tax deductions available to self-employed individuals. The process can be straightforward, but it’s crucial to maintain meticulous records to support your deductions. Here’s a step-by-step...
