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Finance Archives - Accu-Tax

Claiming Your Parents as Dependents – A Comprehensive Guide | Accu Tax

Introduction: Claiming your parents as dependents can provide valuable tax benefits, but it’s important to understand the rules and requirements to ensure compliance with the Internal Revenue Service (IRS) regulations. In this guide, Accu Tax explores the intricacies of claiming your parents as dependents, shedding light on eligibility criteria, supporting documentation, and potential tax deductions....

Stimulus payments: Precisely two weeks from today, the very first of 6 brand-new month-to-month stimulation checks will start showing up in Americans’ mail boxes. Or, certainly, in their savings account, given they’re registered with the IRS. When paired with a tax obligation credit rating next year, this advantage will certainly total as high as $3,600 for each eligible youngster. These increased...

The business tax system, also known as the income tax, is an extremely complex one, which is based on both state and federal levels. Every single government has the constitutional power to levy and collect taxes according to their own laws. In addition, each state also has several other municipalities like cities and counties for...

With the convergence of multiple layers of tax legislation and IRS guidance since 2017, this year’s filing season has the potential to confuse tax preparers as well as the clients they serve. Even for those who follow legislation day in and day out, things can get complicated. For example, the Paycheck Protection Program was initially...

As part of funding legislation for the federal government, President Trump signed a law of Setting Every Community Up for Retirement Enhancement (SECURE) Act on December 20, 2019. The law has many provisions relating to financial planning, especially retirement planning with IRAs and employer-sponsored plans. Among the provisions the most attracting is the curtailing of...

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Copyright by Accu-Tax, Inc. All rights reserved.

Copyright by Accu-Tax. All rights reserved.