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Helping You Understand Taxes Better

You probably don't need to comprehend thousands of pages of legislation, rulings, and past cases if you're not a financial expert or tax accountant. However, understanding the basics is crucial. Due to ignorance-related mistakes, many people...

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Get Ready for taxes: What’s new and what to consider when...

Here's what's new and some key items for taxpayers to consider before they file next year. Reporting rules changed for Form 1099-K. Taxpayers should receive Form 1099-K, Payment Card and Third Party Network Transactions, by January 31, 2023, if...

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Plug-in Electric Drive Vehicle Credit at a Glance

New Final Assembly Requirement If you are interested in claiming the tax credit available under section 30D (EV credit) for purchasing a new electric vehicle after August 16, 2022 (which is the date that the Inflation Reduction Act of 2022 was...

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Benefits of Tax Preparation Services for Your Business

Managing a business entails having to deal with numerous responsibilities to ensure success. You may have to tackle the stress of clients, finances, staff, and similar. One of the most daunting but crucial tasks is preparing and filing taxes for...

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When a Math Error Blows up the Entire Filed Tax

Important documents require a flawless application especially if errors can have consequences. Documents and transactions with the government require thorough preparation to ensure no room for mistakes. Otherwise, the person or parties involved may...

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New for 2023 – IRS Issue New Standard Deduction, Gift Annual...

Highlights of changes in Revenue Procedure 2022-38: The tax year 2023 adjustments described below generally apply to tax returns filed in 2024. The tax items for tax year 2023 of greatest interest to most taxpayers include the following...

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