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How Americans can save thousands more dollars in tax-advantaged retirement plans in 2023?
26Oct
How Americans can save thousands more dollars in tax-advantaged retirement plans in 2023?
Millions of Americans will be able to save more in retirement accounts next year—because of the inflation adjustments made Friday by the Internal Revenue Service. Employees will see their 401(k) contribution limit jump $2,000 to $22,500 for 2023, the largest increase ever in terms of dollars and percentage, according to benefits provider Milliman. About 60...
Seven Steps to Lower Your Taxes
26Sep
Seven Steps to Lower Your Taxes
Everyone has heard that death and taxes are unavoidable. Death is unavoidable, but taxes are not. With little tax planning, you can owe the IRS less money at the end of the year. Here are seven fundamental tax-saving measures you can take to lower your taxable income and the taxes you’ll owe. They do not...
Top Six Tax Deductions for Seniors and Retirees
24Aug
Top Six Tax Deductions for Seniors and Retirees
Standard Deduction Every taxpayer has the option of claiming the standard deduction or itemising deductions on IRS Schedule A. If your personal deductions (mostly home mortgage interest, real estate taxes, charitable donations, and medical costs) are less than the standard deduction, you should take the standard deduction. In 2018, the Tax Cuts and Jobs Act,...
The Home Office Tax Deduction
30Jul
The Home Office Tax Deduction
If you meet the technical requirements of the tax law, you should be able to deduct a portion of many operating expenses associated with running your homes, such as utilities, rent, insurance, depreciation, mortgage interest, real estate taxes, and some casualty losses, repairs, and improvements (if they relate to the part of the house you...
Few important tax topics in 2022
11Jan
Few important tax topics in 2022
Tax laws changes have created significant uncertainty for individuals and businesses. It is important to manage any changes to ensure you are best positioned for success throughout the remainder of 2022 and beyond. Here are some topics we picked for you Paycheck Protection Program (PPP): PPP was one method used to assist businesses to get...
Best tax preparation service in Largo FL
22Dec
Best tax preparation service in Largo FL
Accu-Tax is the best tax preparation service in Largo and Pinellas County FL. We are a full-service tax preparation and accounting firm, plus we help our clients get their federal and state tax refunds fast. Our accountants make sure that your taxes are prepared correctly, so you can expect a quick tax refund from the...
The U.S treasury department has supported the IRS plan to track most bank accounts.
20Oct
The U.S treasury department has supported the IRS plan to track most bank accounts.
The Treasury is defending its proposal to track the banking information of nearly all Americans, after pushback from the financial industry and Congressional Republicans made the proposal a topic of heated debate in Congress. A senior Treasury official told CBS News that tracking a small amount of information for almost all bank accounts in the...
Democrats call for family stimulus checks to last until 2025 when round three begins
24Sep
Democrats call for family stimulus checks to last until 2025 when round three begins
The parents of some 60 million children are set to receive their third child tax credit payment this week. The improved monthly checks are mainly used to cover household expenses and pay debts, according to census data, and are lifting large numbers of children out of poverty. Now, Democratic lawmakers plan to keep these “family...
Following States are sending Fourth Stimulus Checks, Is yours on the list?
8Aug
Following States are sending Fourth Stimulus Checks, Is yours on the list?
Fourth Stimulus Checks: Fourth stimulus checks from the federal government might seem unlikely at this point, states are doing their part to ensure that federal stimulus money is distributed. As part of the US Rescue Plan stimulus relief bill, states were allocated more than $ 200 billion to spend on their economic recovery from the...
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Copyright by Accu-Tax. All rights reserved.