The IRS recommends that everyone do a Paycheck Checkup in 2019. Though especially important for anyone with a 2018 tax bill, it’s also important for anyone whose refund is larger or smaller than expected. By changing withholding now, taxpayers can get the refund they want next year. For those who owe, boosting tax withholding in 2019 ...
In certain limited circumstances, the IRS may send you a letter or notice communicating the fact that you made an and error and the agency has corrected it in your favor. Now, it is certainly true that the opposite can also be the case and a letter from the IRS should never be taken lightly or ignored, but rushing into a state of immediate ...
Any logs, such as a notation on your calendar of the call date, time, to whom and for what business reason, also will bolster your business deduction claim. On the flip side of that telephone taxability coin is the tax deduction for your own, bought-it-yourself cell phone when you use it to conduct business. Cellphones are a legitimate ...
The event must be one that happens in a single instance, so to speak, such as a car accident, and cannot have happened over an extended period of time. It is important to know that only your tax advisor can give you tax advice. The comments in this discussion will help you formulate the appropriate questions to present to your tax ...
When you sell your primary residence, $250,000 of capital gains (or $500,000 for a couple) are exempted from capital gains taxation. This is generally true only if you have owned and used your home as your main residence for at least two out of the five years prior to the sale. Most states tax capital gains according to the same tax rates ...
Finally, we calculated the amount of money investors were taking home after paying both federal and state capital gains taxes. The tax only applies for U.S. citizens and resident aliens, so nonresident aliens are not required to pay it. If you own a home, you may be wondering how the government taxes profits from home sales. As with other ...