New tax benefits on hold. You’ll get them in 2026 filing
The One Big Beautiful Bill Act, signed into law on July 4, 2025, brought several changes taking immediate effect this year. With that, you may
Earned Income Tax Credit (EITC) Guide for 2025: Who Qualifies, How to Claim & Maximize Refunds
The Earned Income Tax Credit is one of the most valuable credits available in the U.S. Plus it’s refundable even if you don’t owe any
One Big Beautiful Bill Act (OBBB) is now law. Two TCJA tax breaks revived!
On July 4, 2025, President Trump’s “One Big Beautiful Bill Act” (OBBB) was officially signed into law. This new legislation particularly restores two major tax
Long Term Care Tax: Your Tax Benefits Explained
With medicinal and healthcare advancements come longer life expectancy, but it also implies the pressing need to get a long-term care insurance policy. We need
2025 Tax Refund Schedule Too Delayed? How to Track
Tax season 2025 for filing ended on April 15. But assuming you filed your tax returns on time and did not apply for October extension,
Self Employment Tax Instructions: A Complete Guide
Earning money on your own terms initially feels freeing, until you have to deal with taxes. Unlike employees who are subject to payroll taxes, you
What Is Income Tax Payable? [Business Tax Accounting]
Income tax payable is just one of the jargons that every business encounters in their financial accounting. Small businesses often struggle to understand whether it
How Do You Calculate Taxes from Payroll: Your US Paycheck Explained
You work hard for your money. But when payday comes, the amount hitting your bank account is less than you earned. It’s all about taxes
How to Fill Out W4, Employee’s Withholding Certificate
How you fill out your form W-4 determines how much federal income tax is withheld from your paycheck. There are nuances how to fill out
How to Calculate Taxable Amount on 1099-R: Your Definitive Guide
Just received your Form 1099-R? This form is used to report money you’ve received from retirement accounts, pensions, annuities and more. Understanding it correctly is
What to do if you missed the FBAR deadline
Last April 15, you would have reported your foreign accounts to the U.S. government, alongside your tax returns. This applies to you, whether you are
Can’t make it on April 15? Here’s how to request filing extension
April 15, 2025, is the federal tax filing deadline in America, but what if you’re not ready? Some people are still waiting for key documents,
Reminder to make your IRA and HSA contributions for 2024
April 15 is not just Tax Day. It’s also the deadline for most individual retirement accounts (IRAS) contributions, including traditional and Roth IRAs. You can
Tax deadlines 2025: Key dates for businesses & individuals
Taxpayers in the United States should mark their calendars for key filing deadlines for April 2025. Here’s a breakdown of the important dates: April 1,
US Tax Brackets 2024/25 and Federal Income Tax Rates
The US tax filing season started in the last week of January. As you file your 2024 income this year, you need to learn the
TCJA expiration | Key changes to expect in tax laws
The Tax Cuts and Jobs Act (TCJA) of 2017 will expire at the end of 2025. It will bring some significant changes to the U.S
Why Might Preparing Taxes Be Different for People Living in Different States?
Interstate migration is not uncommon. Many Americans find themselves in this situation, some working and living in two or more states. If you moved within
How Long Does It Take to Get Tax Refund? [USA]
You have up to 2 to 3 years from filing your returns to claim your refunds. No matter how small the amount, you are entitled
How to Calculate Sales Tax: Navigating Sales Taxes and Deconstructing Total Costs
Sales tax is a standard levy on goods and services, and understanding how to calculate it is essential for budgeting and financial planning. Whether you’re
Capital Gains Tax Rate USA 2024/25: Your Guide to Better Understanding and Calculation
Capital gains taxes are levied on the profits realized from selling appreciated assets such as stocks, bonds, or real estate. The rates applied to these