U.S. Tax Planning - Recent Questions and Answers
IRS Tax Debt is one of the most common debts in the US, though not one that is widely talked about. Many people right now are sitting at home and seeing commercials for IRS Tax Deb...
Filing your taxes is already stressful enough without having to worry about what your relationship status is in the eyes of the IRS. However, for many Americans, this is exactly t...
The head of household filing status allows you to claim a larger standard deduction than the single status. A standard deduction is a set amount, determined by your filing status t...
American residents abroad are often out of touch with U.S. laws and regulations, but it has become increasingly important for taxpayers to familiarize themselves with U.S. tax laws...
Each and every tax filer is allowed a personal tax deduction on their return. This deduction lowers the amount of income that taxes are paid on, giving the filer a bit of a break o...
Many people are surprised to find that they can file their annual Internal Revenue Service 1040 tax return for free. If your gross adjusted income is $58,000. or less, you may qual...
One strategy to lower federal income taxes a business pays to the government is by providing benefit plans to employees. Not only is there a benefit from lower federal income taxes...
Taxpayers who file using the head of household filing status receive a larger standard deduction than those who file using the single status. In 2010, head of household filers were...
Several tax benefits are available for college students or parents who are paying tuition for their dependents. The newest and most beneficial education tax credit is the American...
Itemizing Deductions on a Federal Tax Return
It’s simple to determine whether to itemize deductions. A taxpayer’s deductible expenses are totaled and compared to the standard de...