Employers should keep in mind that paying an employee’s student loan interest might inadvertently reduce the employee’s student loan interest deduction. If you have started to pay back your student loans, you may be able to reduce your taxable income by up to $2,500 of the student loan interest you have paid for you, your spouse, ...
If you have employees, under the CARES Act you were able to defer the 6.2% employer portion of Social Security tax for March 27, 2020 through December 31, 2020. You were also allowed to postpone the payment of 50% of the Social Security portion of your self-employment tax for the same period. Now subtract any ordinary and necessary expenses ...
And at the forefront of this devil-may-care hair attitude was none other than witchy goddess Stevie Nicks, who turns 71 today. For Fleetwood Mac’s frontwoman, there was no such thing as a bad hair day. Get exclusive offers by signing up to our mailing list. Orders are expected to arrive within 5 to 10 business days. Rush 3-day service ...
Social Security recipients and people who are required to file tax returns will not need to provide additional information, but will also have to meet the eligibility criteria to get the payment. If these people want to see their CARES money as fast as possible, they should file their taxes. They can do so through the IRS’ Free File ...
Once you have decided on a type of entity for your business, you can register your business with your state. A common way that small businesses register is by filing a Doing Business As name with their state. TurboTax Live includes a nationwide team, all of whom are knowledgeable tax experts. If you filed taxes with a Houston CPA last year, ...
Tax filers who have not filed their taxes yet, should file with TurboTax today to get their maximum refund and ensure the IRS has their most current information, which the IRS will use to determine stimulus payments. There are as many as 10 million Americans who are not required to file a tax return. Because the IRS will use the federal tax ...