As the United States government has progressed, so has the concept of taxes.
What started as a simple tax on certain products turned into this extremely intricate system. This system is attempting to find the balance of enough funding and ensuring the countries people are happy.
That being said, when it comes time to file taxes or even to select your tax withholding code, it can seem daunting.
Have no fear!
I will go over the top tax tips for beginners.
The IRS will begin to release the Earned Income/Additional Child Tax Credit (EITC/ACTC) refunds as normal.
Preparing for the tax season doesn’t have to be hard or bothersome, but the main way to make it stress-free is to have a tax preparation checklist.
A tax checklist shortens the amount of time you will need to spend trying to remember what important documents your Tax Preparer may ask for.
Sometimes it’s the little items we forget to have ready that can cause the tax preparation process to be a bit draining and annoying.
I’m all about making the tax filing experience fun and easy for you to survive the 2020 tax season!
We’re nearing tax time and that means one thing – you must decide how you’ll complete your taxes. Will you go the DIY route or pay a CPA to do your taxes for you?
A common debate at tax time is TurboTax vs a CPA (Certified Public Accountant) – which is better and/or right for you? Check out this guide on the difference between the two and how to tell which option will suit you the most.
Whether you’re a consumer or a business owner, it’s important to understand the different methods by which taxes are applied. The sale price of a product or service may be inclusive of tax or exclusive of taxes – depending on at what point taxes are charged.
As a consumer, you’ll want to know if the sale price is a flat rate, or if you should consider the tax rate in addition to the advertised price.
A business, however, will need to know how their vendors charge tax and will need to determine when to charge tax as part of their pricing strategy.
