What Is the Standard Deduction?The standard deduction is a fixed dollar amount that reduces your taxable income. It's designed to simplify the tax-filing process and provides a...
Posted by True Tax Service on 10/26/2023
What Are Tax Brackets? Tax brackets are specific income ranges used to determine the tax rate you pay on your taxable income. The United States, for example, uses a progressive...
Posted by True Tax Service on 10/25/2023
Tax season is a time that most of us both anticipate and dread. On one hand, there's the excitement of a potential tax refund, but on the other, there's the looming confusion...
Posted by True Tax Service on 10/21/2023
As the end of the year approaches, it's essential for small business owners to start thinking about tax planning. Strategic tax planning can help you reduce your tax liability...
Posted by True Tax Service on 10/02/2023
Pet Moving Expenses: In some cases, moving expenses for your pet may be deductible if you're relocating for work. This includes transportation, lodging, and even pet quarantine...
Posted by True Tax Service on 09/29/2023
Consider Contributing to a Health Savings Account (HSA):If you're eligible, contributing to a Health Savings Account (HSA) can provide you with a valuable tax benefit. HSAs are...
Posted by True Tax Service on 09/26/2023
Gather All Necessary Documents:Collect all relevant tax documents, including W-2s (for employment income), 1099s (for various types of income), mortgage interest statements, investment...
Posted by True Tax Service on 09/12/2023
1. Contribute to Retirement Accounts:Maximize contributions to your 401(k), IRA, or other retirement accounts. These contributions can lower your taxable income and increase your retirement...
Posted by True Tax Service on 09/11/2023
Planning for retirement is a multi-step process that evolves. To have a secure, comfortable, and enjoyable retirement, you must create the financial cushion to fund it. Please pay...
Posted by CORE PERFORMANCE on 07/31/2022
