Understand the tax implications of receiving Social Security benefits. If you’re receiving Social Security benefits, it’s essential to be aware that a portion of your benefits may be subject to federal income tax. Understanding the tax implications of your Social Security benefits can help you avoid surprises come tax time. Here’s what you need to…
How remote work can affect your taxes and what you need to know. In recent years, remote work has become increasingly common, with many individuals now working from home either part-time or full-time. While remote work offers flexibility and convenience, it can also have implications for your taxes. If you’re working remotely in Greensboro, NC,…
Explore tax breaks available to taxpayers who itemize their deductions. For individuals who itemize their deductions, taking advantage of every available tax break is essential to minimize their tax liability. If you’re in Greensboro, NC, Raleigh, NC, or the surrounding areas and you itemize your deductions, here are some strategies to help you maximize your…
As we approach the end of the year, it’s essential for individuals in Greensboro, NC, Raleigh, NC, and the surrounding areas to review their finances and consider year-end tax planning strategies. Taking proactive steps now can help you minimize your tax liability and maximize your savings when it comes time to file your tax return.…
Understand the rules for deducting business meals on your tax return. Good news for business owners in Greensboro, NC, Raleigh, NC, and the surrounding areas: The IRS has extended the full deductibility of business meals through 2024. This means that you can fully deduct the cost of business-related meals as long as certain requirements are…
Stay updated on the latest changes to IRS Form 1040 for the current tax year. As we dive into the 2024 tax season, it’s essential to stay informed about any changes to IRS Form 1040. This year, there are several updates that taxpayers in Greensboro, NC, Raleigh, NC, and across the country need to be…
The COVID-related Tax Relief Act of 2020 The Consolidated Appropriations Act, 2021, H.R. 133 included funding for the government, extensions for expiring tax extenders, tax relief under the COVID-related Tax Relief Act of 2020, and many more items. Passed by both the House and Senate, it was signed into law by President Trump on December…
Points to understand if you lost your job and was working the gig economy, your taxes don’t go away, freelancers must read this………… You’re probably eager to put 2020 behind you, but unfortunately, at least one aspect of this tumultuous year is going to linger into the next one. Tax season 2021 is primed to…