When facing the difficult task of dealing with the IRS, individuals and businesses often seek assistance from tax professionals. These tax pros can help navigate the complexities of tax laws and regulations. However, not everyone is qualified to represent taxpayers before the IRS. So, which tax professionals are qualified to work the IRS on your […]
How Unemployment Affects Your Taxes
If you spent time unemployed last year, you might be wondering how that’ll affect your tax return this year, especially if it was your first time ever being without work. When it comes to unemployment and taxes, you might have some questions. Here’s a breakdown of how unemployment affects your taxes. Is Unemployment Taxable? Perhaps […]
Tax Guide for New Investors
When considering investing, you may first daydream of the potential rewards of the risky endeavor. But as a new investor, it can be overwhelming to navigate the world of taxes. However, understanding the basics of taxation can help you make informed decisions and avoid costly mistakes during tax time. In this brief tax guide for […]
What is the Kiddie Tax?
Navigating the complexities of taxes can be challenging for anyone. When it comes to families with children, there are additional considerations to be aware of. One such consideration is the IRS Kiddie Tax. This set of rules is specifically aimed at taxing unearned income of certain children at their parent’s tax rate. Understanding how the […]
Power of Attorney Explained
Tax management can be a complex and difficult task. This is especially true when faced with unexpected circumstances such as illness, travel, or other personal challenges. In such situations, having a trusted representative to handle tax-related matters can provide invaluable support. A power of attorney (POA) is a legal instrument that empowers an appointed individual […]
2024 IRS Mileage Rates
The IRS has announced the new mileage rates for 2024. This topic holds significance for countless individuals and businesses across the United States. Whether you’re self-employed, a small business owner, or an employee who uses your vehicle for work-related purposes, understanding the 2024 IRS mileage rates is crucial. In this article, we’ll delve into what […]