ate The SALT deduction or State and Local Tax deduction you pay certainly reduces your taxable income when you claim an itemized deduction on the federal tax returns. However, this post informs you of seven specific situations where this deduction...
Read moreThe Alternative Minimum Tax calculator for 2023 is created for quick estimation and comparison of tax liability of certain individuals who are high earners and may be impacted by this lesser-known tax system. Readers should note that because of high...
Read moreIs hush money taxable? This is a burning question in the mind of many people in the USA because of Mr Trump's indictment news. So, this article will answer the question "Is hush money taxable in the hand of the...
Read moreTax penalty forgiveness can provide much-needed relief for taxpayers facing financial hardship or other extenuating circumstances.Tax penalty forgiveness is set of several programs that IRS runs to provide relief to taxpayers because mistakes can happen for various reasons on account...
Read moreIf someone has advised you about ERC i.e Employment Retention Credit that government launched as an incentive during Covid-19 period of 2021 , you better first listen to what IRS is warning business people about this credit claim. I am...
Read more