Taxes

Updated for tax year 2024. Curious about the business tax deadlines that you should mark on your calendar this tax season? Here’s what small business owners need to know. Deadlines for filing small business tax returns There are different filing deadlines to be aware of depending on what type of business you have. Below are
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Because the Internal Revenue Service (IRS) doesn’t automatically send out periodic account statements, it’s easy to wonder about the status of your account. True, you’ll get letters from the IRS if you have overdue amounts from a past year, or if the IRS believes you have made a mistake on your return. But that doesn’t
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Updated for tax year 2024. No doubt about it, winning the lottery dramatically changes a person’s life. A financial windfall of that magnitude quickly grants you a level of financial freedom you probably have trouble imagining. But becoming a Mega Millions or Powerball jackpot winner doesn’t change everything. If you are the lucky winner, you
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Are you wondering why you owe so much in taxes this year? Want to make sure your tax bill is correct and not pay more than you owe when you file your federal tax return come tax season? At a glance: Common reasons for owing taxes include insufficient withholding, extra income, self-employment tax, life changes,
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Trump Americans Abroad Tax Compliance Relief Proposal Skip to content Home • Blog • Americans Abroad Need Compliance Cost Relief Last week, Republican presidential nominee Donald Trump stated “I support ending the double taxationDouble taxation is when taxes are paid twice on the same dollar of income, regardless of whether that’s corporate or individual income.
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Recent Changes to State GILTI Tax Base Treatment States’ treatment of GILTI has not changed significantly in recent years. Since our last map update on May 20, 2021, only two states, New Jersey and Minnesota, amended their state tax codes or provided supplementary regulatory guidance that invokes GILTI tax base changes: New Jersey decreased its
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Federal Budget Deficit: US Spending & Tax Collections Post-TCJA Skip to content Home • Blog • Another Huge Federal Deficit in Fiscal Year 2024 Despite Surging Corporate and Other Tax Collections The federal government’s budget deficit was $1.8 trillion in fiscal year 2024 (which ended in September), according to preliminary analysis by the Congressional Budget
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Updated for tax year 2024. Ah, the ultimate tax question: What should you do if you owe more taxes to the Internal Revenue Service (IRS) than you can afford? Discovering you owe more tax than expected can leave you feeling defeated. Not getting a tax refund is bad enough, but finding out you owe a
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Have you ever wondered how to make sense of Form W-2? A W-2 form is more than just a piece of paper; it’s a breakdown of your income, taxes, and other important details that your employer must provide to you and the IRS. This guide will explain everything you need to know about Form W-2,
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If you’re a freelancer or a career independent contractor, you’re probably familiar with a W-9 form. As far as tax paperwork goes, it’s one of the better ones because it generally means you’ve won a new client! The form makes it easy to submit all your vital information to the client, so you can start
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Changes from Last Year Estonia increased its excise duty on beer from €12.70 to €13.34 per hectoliter per alcohol content in January 2024, amounting to €0.01 more per drink. Finland decreased its excise duty on beer from €38.05 to €36.20 per hectoliter in January 2024, amounting to €0.03 less per drink. France increased its excise
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North Dakota Repeal Property Taxes Measure 4 Skip to content Home • Op-eds • Before Repealing the Property Tax, Look Under the Hood Imagine never again receiving a property taxA property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and
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Vice President Kamala Harris has touted a new economic plan to drive “broad-based economic growth,” but her policies contradict this message. Her narrowly targeted America Forward tax credit for “industries of the future” and taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover
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Every year brings new tax law changes to keep American taxpayers on their toes, and 2024 is no different. From simple inflation updates to changes in Form 1099-K reporting requirements, here’s everything you need to know about 2024 tax changes before you file your income tax return. At a glance: The standard deduction has increased,
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