It is not uncommon for IRA members to think if they can avoid early withdrawal penalties for IRA fund use. That is rightly so because, in today's uncertain economic landscape, accessing your retirement savings without incurring penalties can be a...
Read moreInnocent spouse relief is a very important provision of law under IRC that protect a person in a marriage from charges of wrongdoing when he/she may not be responsible for any tax evasion or wrong doing in a jointly filed...
Read moreLost refund check? Don't worry! IRS has created a system in which they verify your claim that you were actually issued a refund and whether the refund check was despatched and it is not encashed or not. If you're a...
Read moreIf you carry business or profession from a portion of your home, you are allowed home office tax deduction as also depreciation on the property. Please read Home Office Deduction Calculator. If you are using Form 8829, after calculating your...
Read moreFiling and paying taxes is an essential part of running a small business. Failure to comply with tax regulations can lead to legal and financial consequences, negatively impacting your business's growth and reputation. What are small business taxes? Small business...
Read moreTax implications on major life events, like getting married, having children, or buying a home, can significantly impact one's tax situation. Then divorce and the death of a spouse are also significant life events with various tax implications. This post...
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