Tax Filing Status: Filing Jointly or Separately As A Married Couple
You must choose a tax filing status when you file your tax return. This status is used to determine your correct tax, eligibility for certain tax breaks, tax rates and
Filing Late Taxes Penalty
Income tax deadline may feel like it’s approaching at rocket speed if you haven’t caught up on your bookkeeping. Don’t make the situation worse by filing late taxes as this
Is Bartering Taxable Income?
tra Bartering is one of the oldest forms of trade. You may find it beneficial to barter in order to save your cash. Plus, the advent of the internet has
The Standard Business Mileage Rate is Increasing in 2024
Although not a significant amount, the standard business mileage rate is increasing in 2024 to 67 cents (up from 65.5 cents in 2023). Do you use the optional standard mileage
2024 Tax Season Questions and Answers
The IRS has announced that they will begin accepting and processing 2023 tax return on January 29. With this in mind, here are some tax season questions and answers that
What Is The Emergency Savings Account Employee Benefit?
The emergency savings account employee benefit is part of the SECURE 2.0 law geared towards employees facing emergencies. The actual name of this account is called pension-linked emergency savings (PLESA).
The Difference Between Accounting and Bookkeeping
When most people think about the difference between accounting and bookkeeping, they are confused about the distinction between each process. Although accountants and bookkeepers share similarities, they are used in
Do You Pay Taxes When You Sell Your House?
Buying and selling a house is a momentous occasion in a person’s life. Unfortunately, not everyone will experience such an occasion. It’s a big step going through the process of
Claiming Medical Expenses As A Tax Deduction
Many of us make new year resolutions to take better care of our health. But considering the high prices of food and everything else these days, medical costs are not
Electric Vehicle Tax Credit For Businesses
Many small business owners are seeking ways to embrace more sustainable operations. And if they can lower their tax bill simultaneously, that’s a win-win. And that’s exactly what the recently
