Tax

Would you want to know if you will get a tax refund if I make 75000? In my experience, the process of filing taxes is not enjoyable for anyone; however, a tax refund provides some solace.  For instance, a 30-year-old single acquaintance of mine named John does not have any dependents.  He earned $75,000, withheld […]

Why do you always owe taxes when you claim 0? If I understand you properly, you claimed zero allowances on your W-4 and still owe taxes.  In my experience, if you claimed 0 and still owe taxes, you probably added “married” to your W4 form. You are the sole earner when you claim 0 in

Do you want to know why you still owe taxes if I claim 0? Drawing from my personal experience, I am able to provide you with, without charge, the rationale and methodology.  Nonetheless, if you reported zero and still owe taxes, you likely included the word “married” on Form W4.  It appears that you are

Would you want to know What reduces your tax liability? Based on my experience, you may take steps to minimize your taxable income and lower your taxes. Understanding and accurately calculating the tax credits and deductions we are entitled to might be the difference between owing more money at tax time or receiving a nice

Do you want to know What qualifies for a tax write-off? From my extensive experience, a write-off is a severe form of a write-down in which the book value of an asset is diminished to an amount below its fair market value.  For example, debt can be written down to reflect that the borrower can

Do you want to know What itemized deductions are allowed in 2024? From what I’ve seen, when you file your taxes every year, you can either take the standard claim or list all of your expenses.  The standard deduction is a set amount that you can take out of your taxed income every year.  This

Do you want to know the new child tax credit for 2024? According to my personal experience, the Internal Revenue Service of the United States Government has established the Child Tax Credit 2024, which entitles eligible citizens to receive the Child Tax Benefit 2024 for each child.  If you are aware of this information but

Do you want to know what the biggest tax return ever is? In my experience, the largest tax refund request was for $94 million.  However, as you continue reading, I will provide additional information regarding the strategies employed by small business owners and freelancers to reduce their tax liability and the largest tax return ever

Do you want to know What happens if you write off too much on taxes? My experience tells me that whether you work for yourself or someone else, you most likely have a few major monthly costs.  If a friend or business colleague has ever mentioned “writing off” a cost, they are most likely referring