Nanny tax is federal withholding tax including social security and Medicare employment taxes that you become responsible to deduct at source and deposit to treasury from the payments made to a household employee . In other words, Internal Revenue Code...
Read moreThe Child Tax Credit law under section 24 of the 26US Code has changed a lot from the tax year 2018 with the passage of the Tax Cuts & Jobs Act. Earlier i.e before TCJA, a taxpayer could claim a...
Read moreDo you know if you are eligible for tax deduction related to mortgage interest you paid? Seven answers to most important questions reltaed to tax deduction of home loan interest
Read moreIf you want to make charitable contribution , it is wise and logical to donate car for tax credit .Your contribution in form of a car will not only help non-profit organization’s missions, this charitable contribution will make you eligible...
Read moreThe New 2019 Federal Income Tax Brackets and Rates for Capital Gains , all at one place .In 2019, the income limits for all tax brackets and all filers will be adjusted for inflation . The top marginal income tax...
Read moreIRS tax problems have sent many celebrities behind bars. With the recent guilty plea by DMX for tax fraud, in the amount of $1.7 million over a period of 5 years, has once again sparked a controversy over celebrities evading...
Read more