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
Single (Filing Status: "Single"):Definition: You can file as single if you are unmarried, divorced, legally separated, or widowed.Advantages: May be eligible for certain...
Posted by True Tax Service on 10/23/2023
Personal Information:Social Security Number (SSN): You and your dependents' SSNs are essential for tax identification.Filing Status: Determine your filing status (e.g., single,...
Posted by True Tax Service on 10/23/2023
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
Are you tired of watching a significant chunk of your hard-earned money disappear into the abyss of taxes every year? If you're self-employed, an entrepreneur, or a freelancer,...
Posted by True Tax Service on 09/17/2023
