The Foreign Earned Income Exclusion (FEIE) is a provision in the U.S. tax code that allows eligible taxpayers to exclude a portion of their income earned abroad from U.S. taxation. This exclusion is particularly beneficial for Americans working and living overseas, as it helps reduce the potential burden of double taxation. Below, we explore how […]
2025 IRS Tax Brackets and Standard Deductions
With 2025 on the horizon, taxpayers are beginning to plan for how they will file their returns. The IRS updates tax brackets and standard deductions annually to account for inflation and legislative changes. This will affect how much individuals and families owe. Let’s examine the newly announced 2025 tax brackets and standard deductions, as well […]
Every Tax Deadline You Need to Know in 2025
Knowing important tax deadlines in 2025 is essential for staying compliant and avoiding late penalties. Whether you’re an individual taxpayer, business owner, freelancer, or part of a corporation, being informed far beyond the typical April 15th tax deadline is key. This guide covers every key tax deadline, from individual tax returns to quarterly filings for […]
How to Fill Out a W-4
When taxpayers report smaller refunds, more often than not, they can be credited to an outdated Form W-4. Unbeknownst to some, a W-4 needs to be updated whenever certain life changes occur. If it’s outdated, you may not have enough tax withheld during the year. This basically results in a smaller refund at tax time. […]
Are Political Donations Tax Deductible?
Political donations are a vital part of democratic systems, empowering individuals to support their preferred candidates, parties, and causes. As Election Day approaches, people often wonder whether their contributions to political campaigns, committees, or candidates can be deducted on their tax returns. This question arises frequently, especially in the context of other charitable donations, which […]
Which States Have No Income Tax?
As tax season approaches, individuals and businesses alike are often searching for ways to minimize their tax burden. One way some achieve this is by living in a state that does not impose personal income taxes. Currently, nine U.S. states fall into this category, each with its unique approach to taxation. Understanding how these states […]