Tax Articles

IRS Increases Business Travel Mileage Rates On July 1st, 2022

The IRS announced on June 9, 2022, that it would raise the standard mileage rate for business mileage for the final six months of 2022...

What Tax Advantages Should I Know About Before Buying Or Leasing A Car?

As a business owner, you probably have to consider the decision of leasing or buying a car more than an ordinary person aiming to buy or...

Top 5 Tax Breaks Self-Employed Taxpayers Should Know About

When you’re self-employed, you’re the boss. But because you're the boss, that also means you’re the one stuck with the big tax bill. When...

Self-Employed Contributions Act (SECA) Tax

Self-employed people are responsible for paying the Self-Employed Contributions Act (SECA) tax. They contribute to the cost of Social...

Here Are The Differences Between Marginal vs. Effective Tax Rates

Taxpayers can determine their IRS debt depending on their annual income and tax bracket by using marginal and effective tax rates. The...

Natural Disasters Tax Relief

Tax deadlines are stressful enough, even under the ideal circumstances. Tax payment and filing deadlines can add stress to a situation...

Tax Planning For Parents Of College Students

It can be difficult to file taxes on your own as a student, especially with all the intricate forms and technicalities. Along with all of...

Is Head Of Household The Right Filing Status For You?

Standard deductions, qualifications, and tax brackets differ depending on whether you file as a single person or as the head of...

Net Investment Income Tax (NIIT): The Basics

Before taxes, investment assets such as bonds, equities, mutual funds, loans, and other investments generate income known as net...

What Is A Consumption Tax?

A consumption tax is a tax on the purchase of a good or service. A consumption tax is charged when consumers spend money, while an income...

Key Differences: W-2 vs. 1099 vs. W-4

The main difference between W-2 and 1099 workers is that a W-2 is a payroll employee and 1099 is a non-payroll worker. The names “W-2...

Health Insurance Coverage May Or May Not Affect Your Taxes And Here's Why

Buying health insurance affects your taxes, as well as not buying it. Where you buy your health insurance can also make a big difference...

IRS Raises Interest Rates On July 1

The Internal Revenue Service announced about a month ago on May 20, 2022, that interest rates will be increasing for the calendar quarter...

What Is FICA Tax?

Are you doing taxes for the first time? There are a couple of different types of payroll taxes such as income taxes, unemployment taxes,...

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