Join NSA's director of public policy, Jessica L. Jeane, J.D., as she takes a deep dive into President Biden’s “Made in America Tax Plan,” which proposes several significant tax increases, some of which include raising the corporate income tax rate from 21 to 28 percent and a new 15% minimum tax...
The standard deductions for single taxpayers, heads of households and married individuals will increase slightly in 2017, but the personal exemption is unchanged, the IRS said in an October 25 news release ( IR-2016-139 ). Taxpayers will use the information when filing their returns in 2018, the...
It’s difficult to claim you prepare a better tax return than someone down the street. However, you can claim an area of expertise your competition doesn’t have. A Narrow Focus Will Help You Spur Growth As a small business owner, the concept of saying “no” to a prospect seems...
Whether you’re an employer or an individual taxpayer, the Taxpayer Advocate Service has several tools available to assist you in estimating credits and payments related to the Affordable Care Act. The Taxpayer Advocate Service recently added a tool to help employers understand how the employer...
NSA member since 1991 and trained continuing education instructor, Monica Haven, EA, JD, ATA, ATP, is an expert in tax issues and tax planning for all things foreign, whether you are an American citizen living abroad or an alien who has landed on U.S. soil. Remember, men are from Mars and women...
If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the simplified method or the regular method to claim your deduction. Here are six tips that...
Special tax rules may apply to some children who receive investment income. The rules may affect the amount of tax and how to report the income. Here are five important points to keep in mind if your child has investment income: 1. Investment Income. Investment income generally includes...
You may not know about the Alternative Minimum Tax because you’ve never had to pay it before. However, your income may have changed and you may have to pay it this year. The AMT is an income tax imposed at nearly a flat rate on an adjusted amount of taxable income above a certain threshold. If...
The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning April 1, 2016. The rates will be: three (3) percent for overpayments [two (2) percent in the case of a corporation]; one-half (0.5) percent for the portion of a...
Check out the Top 10 Reasons to Hire a Tax Professional You’ll hear a boatload of promises this election year, especially from presidential candidates bellowing about simplified tax codes. Will those promises be kept? Don’t hold your breath. But here’s one promise you can take to the...
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