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Small business can enjoy a lot of tax deductions. Following is the list of tax deductions that a business can enjoy: If you are paying employee’s wage in form of cash or property, you can claim a tax deduction If you are a manufacturing business, then you can get deductions on the cost of goods [...]
There are many different ways through which a family or student can get higher education tax benefits. There is a difference between credit and deductions. A deduction reduces the amount of income you are taxed on; a credit actually reduces the amount of tax owed. Tax credit can have a greater impact on the bottom [...]
Digging through piles of paperwork and receipts is not the perfect way to spend your day, but with tax deadline looming ahead, it is unavoidable. If you are a homeowner, digging through those receipts may get your deductions you never thought about and even save thousands in taxes this year. Here are a few tax [...]
Needless to say, taxes and anxiety go hand in hand, whether you are a pro at doing your taxes or a novice. It can especially be an uphill task for a student. Understanding your student loans and taxes can especially be confusing. Here are three ways how student loans affect taxes, from deductions [...]
Doing taxes is never fun and like many people filing their tax returns, this turns out to be the only time during the year that you give your finances a closer look. It only makes sense to seize the opportunity and learn a few things from your tax return. Interest Earned on [...]
According to a recent survey, 43% of men and 36% of women, ages 18-34, still live their parents. Although it can be tricky, there are a few tax deductions for parents and other ways you can offset the costs of letting those adult children stay in the nest, during the tax season. Claim [...]
The tax deadline is almost here and you know the rules: Report all your incomes when filing your taxes. Income includes your wages and any interest from your bank accounts. This interest can be as low as a few dollars and can be higher. Whatever the case may be, you are required to [...]
Doing taxes on your own always seems like a daunting task. More daunting is to choose a tax preparer to help you out. With so many tax payers, competition for services is fierce amongst the tax preparers. Choosing the right one, then, becomes an uphill task. Make sure you know what to look [...]
If the thought of paying taxes on the Social Security benefits you receive is making you hyperventilate, just take a deep breath and relax. We're here to aid you with any social security tax help you might need. You might be wondering, "are social security benefits taxed?" Though most of the people do [...]
Despite a relentless effort to prevent identity theft this tax season, the IRS has been unable to control identity theft and tax fraud. According to the IRS, there has been a 400% increase in email phishing and malware, targeting both the tax payers and the tax preparers. A Red Flag for You [...]
