Preparing your tax return can be a complicated mix of math and tax-specific jargon that’s difficult to understand. One fundamental question that many tax payers struggle with is the difference between the various filing statuses—and the relative advantages...
It’s not mandatory for everyone to file a federal tax return. If your income was below a certain threshold last year, you may not be required to file a return this year either. We all know how tedious and confusing it can be to do your taxes. If you have a free...
If you just became a parent last year, you may be unfamiliar with how this life change impacts your taxes. The filing process is significantly different after you have kids, and many new parents miss out on important tax breaks. In this post, we examine a few key...
You may have heard the term “cryptocurrency” being thrown around in recent years. If you’re one of the early adopters of this digital currency transaction technology—e.g., Bitcoin, Ethereum, Litecoin—then this notice applies to you: The...
American nonprofit organizations will foray into mostly uncharted territory this year thanks to the new tax laws that may significantly impact a variety of nonprofits. Here is a breakdown of a few of the main provisions of the bill and its possible impact on a...
Moving to a new home can be time-consuming, exhausting and expensive. However, many people don’t realize that when they relocate, they may be able to deduct their moving expenses on their tax return. Depending on how much your move cost, this deduction could spell...
When someone close to you passes away, there are an overwhelming number of emotions and responsibilities to contend with. Probably the last thing on your mind is the decedent’s income tax obligations. However, it’s important to know that an income tax...
Almost everyone in Georgia has an obligation to file tax returns. Unfortunately, organizing the paperwork involved is almost as unpleasant as paying. Despite the challenges of preparing tax returns, people need to be thorough and have documentation to support their...
Both U.S. residents and citizens must pay tax on income earned from foreign sources, but there may be a credit on your United States taxes coming your way if you paid income taxes to another country.Deciding Between Credit or Deduction Your foreign tax credit can...
Georgia taxpayers may be under the impression that the Internal Revenue Service conducts audits on only a tiny number of tax returns each year. However, according to H&R Block, the number may be significantly higher than commonly reported statistics indicate.For...
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