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AGI vs. MAGI: How to Calculate Each One
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2021/12/Understanding_AGI_and_MAGI.mp4"][/video] Adjusted Gross Income (AGI) and Modified Adjusted Gross Income (MAGI): When it comes to calculating your taxes, you will often hear…
The Child Tax Credit
A Tax Break for People Who Have a Qualifying Child One of the most valuable and popular federal tax credits is the Child Tax Credit. For tax…
Who Has To File A Tax Return
How to Determine If You Need to File a Tax Return With the IRS Are you wondering if you need to file a tax return?…
Tax Form 1099-MISC: Miscellaneous Income
Reporting Miscellaneous Income and Payments to the IRS Form 1099-MISC is an information return used to report certain miscellaneous income/payments to the IRS. If…
6 Tips to Help You Avoid an IRS Tax Audit
Although the IRS only audits about 1.1% of the over 140 million returns it receives each year, for those people who do receive an audit…
Business Taxes: Important Due Dates
In general, all businesses operating in the U.S. are required to report their activities to the IRS by filing annual tax returns. The due date…
5 Tax Deductions for Businesses
Beyond normal day-to-day business expenses, there are many other tax deductions that can help business owners reduce their tax liability. Not using all the deductions…
Tax Deductions for Medical Expenses
Medical expenses, especially if they are unexpected, can take a bite out of your savings. However, you may be able to find some tax relief…
