Filing is less complicated now and pandemic-related tax laws are gone, but you need to know about changes for tax year 2023.
But before you file your tax return, here’s what you need to know. How to file your taxes It’s important to have your documents in order when preparing to file your taxes in 2022. And IRS.gov has a full list of what you will need prior to filing your return. Organized tax ...
November 16, 2022Many states have introduced pass-through entity (PTE) taxes as a workaround to the $10,000 cap on deducting state and local tax (SALT) expenses enacted by the Tax Cuts and Jobs Act of 2017. These mostly elective taxes allow eligible PTEs to deduct state taxes at the en...
Household employers must have their workers complete Forms I-9 to establish that they're legally able to work in the U.S. You must pay Social Security and Medicare taxes on behalf of household employees you pay $2,400 or more in 2022. ...
A divorce can mean new beginnings. It can also mean new tax implications. CPA and TurboTax tax expert Lisa Greene-Lewis has the divorcee's guide to filing taxes after this major life event.
the exemption is scheduled to drop to about $7 million. If you own assets that have declined in value, now may be a good time to include those in your gifting plans. Temporarily reduced values could enable you to give that much more without triggering gift taxes, the NWS team points out...
How to manage stress about money while you're in college Often you won't know in advance if you are due a refund or have to pay taxes, and how much — your income, tax laws and other factors are constantly changing. So, even if you got a refund last year, it doesn't mean you'...
It's almost time to file your federal tax return and there are a handful of changes you need to know about, including steps you need to take regarding child tax credit payments.WASHINGTON -- Many US tax filers get refunds when they file their federal income taxes. But this year, thanks ...
California Taxpayers Get More Time to Pay 2022 Taxes On Monday, October 16, theInternal Revenue Service (IRS)again extended the tax deadlines for most California taxpayers to November 16, 2023. If you live in the 55 counties impacted (all counties in the state except Lassen, Modo, and Shasta...
IRS inflation adjustments intend to keep federal taxes in line with inflation. Given that inflation started climbing in 2021 and continued climbing further in 2022 to historically high levels, particularly when compared to the last few decades, it's important to note the adjustments from previous ye...