federal taxes Archive

TweetShareSharePin0 SharesStarting a Business Accounting Source: Flickr Starting a business can be quite trying at times. There are many things you must consider when starting a business. In addition to deciding what type of business you will start up, what the business will sell or what services the business will provide, you must also make

TweetShareSharePin0 Shares4 Reasons People Get Into Trouble With the IRS Source: Flickr You don’t want to mess with the Internal Revenue Service. One small mix-up when handling your finances can cost you big. For example, in recent years the IRS has increased its filing of levies, liens and wage garnishments. In fact, in 2004 alone,

TweetShareSharePin0 Shares Paying Workers – What Can You Write-Off? Source: Flickr As your business grows, you are going to need help. This help comes in the form of employees and independent contractors. What you can write-off is dependent upon how your helper is classified – as an employee or independent contractor. Independent Contractor Whenever possible,

TweetShareSharePin0 Shares The Joint Committee on Taxation (JCT) recently released data on taxes paid at various levels of income, indicating the federal tax system is progressive, consistent with similar analysis by the Congressional Budget Office (CBO), and the Organisation for Economic Co-operation and Development (OECD). The JCT found that the bottom 50 percent of taxpayers

TweetShareSharePin0 Shares White House will release its budget on  May 27. President Biden will release his full 2022 budget two weeks from now. It will include projections for mandatory spending such as Social Security, Medicare, and Medicaid as well as more details on discretionary spending and tax proposals. It’s expected to unify his $1.5 trillion

TweetShareSharePin0 Shares White House will release its budget on  May 27. President Biden will release his full 2022 budget two weeks from now. It will include projections for mandatory spending such as Social Security, Medicare, and Medicaid as well as more details on discretionary spending and tax proposals. It’s expected to unify his $1.5 trillion

TweetShareSharePin0 Shares On Monday, the U.S. Treasury Department released much-anticipated guidance for the American Recovery Plan’s (ARP) $350 billion in direct state and local aid, including details on how it will implement the law’s restriction on using ARP funds for state tax cuts. Treasury’s rules give states plenty of flexibility. But there are limits, and