Income Taxes

When discussing income tax, it’s easy to confuse similar-sounding technical terms. The boundaries around tax exemption and tax deduction are particularly blurry. Although these two types of reductions tend to be used interchangeably, they have separate structures and operate under distinct criteria. Recognizing the differences between exemptions and deductions will help you gain a better […]

The Internal Revenue Service can be a complex labyrinth of red tape and bureaucracy. Even the most experienced accountants can sometimes struggle to get things done in a timely fashion. On the other hand, having any sort of outstanding tax issue can be both stressful and costly. So you absolutely need to make sure you […]

Nowadays, do-it-yourself online tax filing is easily the most popular way to file you tax return. For many people, it’s convenient, cheap, and takes care of your tax needs with ease. Despite that, plenty of us still want to speak with a tax professional before we hit that ‘submit’ button. After all, taxes can be […]

Whenever you get a new job, you’re required to fill out a W4 form. Your answers will help your new employer figure out how much tax to withhold from your paycheck. They will send that money to the IRS on your behalf. In most cases, these withholdings will cover your tax liabilities. Especially once you […]