Category: Tax Central

As of 2014, the Affordable Care Act imposed the new requirement that all people in the United States, with certain exceptions, have minimum essential health

Article Highlights: Payroll Withholding  W-4  2018 Tax Projection  Adjusting Withholding  With all of the tax reform changes and the corresponding reductions in most taxpayers’ income

Article Highlights: Reasons to Keep Records  Statute of Limitations  Maintaining Record of Asset Basis  Even though the 2021 tax due date has come and gone,

Keeping a Good Tip Record:If you are a waiter or waitress, the IRS requires you to keep a record of your tips. The record needs

Article Highlights: Solar Promotions  Solar Tax Credit  Nonrefundable Credit  Financing Costs  Solar Credit Phase-out  Leasing a Solar System  There are TV ads, telemarketing phone calls

Article Highlights: Filing Status  Claiming the Children as Dependents Child Exemption  Head-of-Household Filing Status  Tuition Tax Credit  Child Care Tax Credit  Child Tax Credit  Medical

Homeowners Receive Big Tax Breaks Home ownership can provide you with important tax benefits: Deductions for real estate taxes and home mortgage interest, and  Gain

Professional Fees & Dues:Dues paid to professional societies related to your occupation are deductible. Deductions are allowed for payments made to a union as a

Article Highlights: Increase In Standard Deduction  Loss of Personal Exemptions  Changes to Itemized Deductions  Bunching Strategy  Employee Business Expenses  Business Expensing  20% Flow-through Income Deduction 

Employment Tax Responsibilities for Employers of Household Workers Household employees are workers you hire for “domestic services,” i.e., those services performed in and about your