Becoming a homeowner is a big milestone, and it comes with both financial rewards and responsibilities. Whether you’re buying your first home or renting out a part of it, understanding how taxes work can help you avoid costly mistakes and […]
In the United States, corporations must file specific tax forms that detail their financial activity throughout the fiscal year. The Internal Revenue Service (IRS) uses these forms to assess and collect the appropriate taxes. Two of the primary forms used […]
IRS Form 941, also known as the “Employer’s Quarterly Federal Tax Return,” is a form that most employers must file quarterly with the Internal Revenue Service (IRS). This form reports income taxes, Social Security tax, or Medicare tax withheld from […]
Recent headlines have sparked alarm with news that as many as 15,000 Internal Revenue Service (IRS) employees could face layoffs. This significant reduction in the workforce could potentially create an environment ripe for tax evasion, turning it into what some […]
Business taxes are levies imposed on the income, property, and sales revenue of businesses. They vary depending on the business structure, the type of business, and the jurisdiction in which the business operates. These taxes are crucial for governments as […]
Consulting a Tax preparation professional is key essential in filing your taxes the right way. The primary reason you need a tax preparer is to file your returns accurately and on time.
The IRS adjusted its contribution limit to your retirement account. You’ll be able to avail of the additional tax savings when you file your taxes in 2020. Generous employers can give you extra towards your retirement account. We summarized the […]