9 03, 2022

Foreign Earned Income Exclusion

By |2022-03-08T14:36:22-07:00March 9th, 2022|Tax|0 Comments

Foreign Earned Income Exclusion The foreign earned income exclusion is a tax exclusion to help prevent US citizens and resident aliens from being subject to double taxation. In this article, we will go over the basics of what the foreign earned income exclusion covers. Foreign Earned Income First, it is important to understand what foreign [...]

22 10, 2021

Taxation of Unemployment Benefits

By |2021-10-21T13:03:50-07:00October 22nd, 2021|Tax|0 Comments

Taxation of Unemployment Benefits With so many people receiving unemployment benefits during the past two years, many are concerned about the taxation of unemployment benefits. In this article, we will go over the basics regarding the taxation of unemployment benefits. What Is Taxable All the unemployment benefits you receive are includable in your gross [...]

2 12, 2020

Tax Identification Numbers

By |2020-12-28T12:11:54-07:00December 2nd, 2020|Tax|0 Comments

Tax Identification Numbers Tax identification numbers, or TINs, are numbers the IRS uses for tracking purposes. In this article, we will go over the basics of tax identification numbers and the different types you may need to use. The Basics TINs are nine-digit identification numbers the IRS uses. They are a way for the [...]

9 09, 2020

History of Taxes in the United States

By |2020-09-24T15:34:35-07:00September 9th, 2020|Tax|0 Comments

History of Taxes in the U.S. The history of taxes in the U.S. may be shorter than in other countries, but it is full of information. In this article, we will go over a condensed history of taxes in the U.S. and how the past affects us today. Early History of Taxes Before the [...]

8 07, 2020

Revocable Trust Taxes

By |2020-09-25T08:59:32-07:00July 8th, 2020|Tax|0 Comments

Revocable Trust Taxes Revocable trust taxes come into play after all parties that created the trust are deceased. Typically, during the lifetime of the grantors, there is not any special tax consideration. In this article, we will briefly go over revocable trust taxes and beneficiary taxation. Interest and Principal A trust fund is broken [...]

3 06, 2020

10 Common Forms Your Tax Preparer Needs

By |2020-09-25T09:59:32-07:00June 3rd, 2020|Tax|0 Comments

Common Forms Your Tax Preparer Needs Though everyone’s situation is different, there are generally 10 common forms your tax preparer needs to complete your taxes. Typically, it is best not to go meet with your preparer until you have all your forms. In this article, we will help you identify 10 common forms your [...]

16 04, 2020

Schedule 3-Additional Credits and Payments

By |2020-09-25T11:06:45-07:00April 16th, 2020|Tax|0 Comments

Schedule 3-Additional Credits and Payments Schedule 3 is an IRS tax form that allows you to claim tax credits. Tax credits allow you to reduce your tax liability on a dollar for dollar basis. In this article, we will go over the basics of how Schedule 3 works and the credits you can claim. [...]

6 03, 2020

Schedule 1

By |2020-09-25T12:28:52-07:00March 6th, 2020|Tax|0 Comments

Schedule 1 Schedule 1 is a new tax form that came about due to the Tax Cuts and Jobs Act of 2017. This schedule is one of five new schedules introduced in the 2018 tax year. Many taxpayers are not familiar with these new forms. In this article, we will go over what a [...]

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