by PSA CPA | Apr 1, 2024 |
Filing jointly or separately The IRS deems taxpayers wedded if they are legitimately married under state law, reside together in a state-recognized common-law marriage, or are separated but do not have a separation maintenance or final divorce decision at the...
by PSA CPA | Apr 1, 2024 |
At a time when so many people want assistance, there are still several fiscal and charitable advantages to giving back. When planning out their taxes, individuals and married couples must make a critical decision about charity gifts. Choose the standard deduction,...
by PSA CPA | Mar 1, 2024 |
So, you submitted your tax return on time and intended to forget about taxes for another year. But you’ve recently uncovered an error on your federal tax return. What are you doing? Do you submit a fresh return with the Internal Revenue Service and advise them...
by PSA CPA | Mar 1, 2024 |
What is the qualified business income deduction? The Qualified business income deduction (QBI) allows self-employed and small-company owners to deduct up to 20% of their qualified business income from their taxes. In general, to qualify, total taxable income in 2023...
by PSA CPA | Mar 1, 2024 |
Are you doing your taxes for the first time this year? Filing an income tax return for the first time might be intimidating. The good news is that most teen tax returns are straightforward to complete—you just need to be familiar with fundamental tax concepts. Is an...
It’s interesting to see how Social Security benefits are taxed differently depending on income and location. I didn’t realize only…