Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
Many taxpayers have concerns about the taxes they pay and wonder if there is a way for them to save on taxes. You will be surprised to know that the best answer to this question lies...
Couples living in a community property state own their marital properties, income, and assets jointly. If you earn around $75,000, the income is yours as much as it is your spouse....
Tax credits, such as elderly tax credit and the disabled, are credits applied to taxes owed. For example, if you owe $2,000 in taxes and have a loan of $700, you only have to pay $1,300....
What if you had the chance to win an award of excellence for your outstanding contributions to art, community service, or science? Do you have to pay income tax on this amount? The...
If you are contemplating going with a reverse mortgage or HECM loan, it is imperative to research this unique retirement option's financial impact. A reverse mortgage allows you...
Trade by barter is an ancient means of transaction in which people exchange goods for goods without money. These days, business exchange services with each other in a barter...
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Most families are not tax professionals. So when the time comes to hire a nanny, especially if it's your first time, knowing all the details and IRS requirements and your status...