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Tax Q&A: Understanding What Is And Is Not Taxable

Is Social Security retirement income taxable? Social Security retirement benefits are taxable, although it depends on your total income and civil status. Federal law states that an individual must pay taxes if he/she has annual Social Security retirement income of...

When Are 2019 Taxes Due?

As we approach the new tax season, many of our clients who are small business owners are asking more & more questions. Getting your taxes filed on time is a lot easier when you a) have a year-round accounting system and b) have a clear deadline to aim...

What is the difference between a Tax Credit and a Tax Deduction

If you could choose between a tax deduction and a tax credit of the same amount, which would be more likely to benefit you? Understanding the difference can help you plan your taxes. A tax deduction lowers the amount of income on which you’re taxed. The amount of your...
When Are 2019 Taxes Due?

When Are 2019 Taxes Due?

As we approach the new tax season, many of our clients who are small business owners are asking more & more questions. Getting your taxes filed on time is a lot easier when you a) have a year-round accounting system and b) have a clear deadline to aim...

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The 4 Must Know Tax Breaks for Individuals

The 4 Must Know Tax Breaks for Individuals

Most taxpayers don’t want to pay more taxes than they actually owe. Here are some common mistakes and omissions that cost taxpayers money. Overlooking education tax credits. Parents of college students may be able to claim the American Opportunity Tax Credit (AOTC)...

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