Taxes

When it comes to “being your own boss,” Americans seem to have it covered. According to the Bureau of Labor Statistics, there were about 16.2 million self-employed workers in January 2023 — that’s 10.1% of the workforce. And when tax season rolls around, many self-employed taxpayers like yourself think they need to hire tax professionals

Trump Reciprocal Tariffs on EU? A VAT Isn’t Discriminatory Skip to content Home • Blog • The European VAT is Not a Discriminatory Tax Against US Exports The Trump administration has once again floated the idea of “reciprocal” tariffs on foreign countries. While it is unclear what formula the administration will use to determine what

Both taxpayers and the IRS sometimes face challenges when filing and processing federal tax returns. To help you out, here are five tips that will help you avoid delays and ensure a smoother tax filing process for both sides. Tips to help you avoid delays while filing taxes 1. Collect all tax documents before filing.

House Budget Resolution Aims to Balance Tax Cuts, Spending Skip to content Home • Blog • House Budget Resolution Aims to Balance Tax Cut and Spending Reduction Goals The House Budget Committee has released a budget resolution that specifies large reductions in both taxes and spending over the next decade, paving the way to extend

One of the hardest parts about doing your taxes? Waiting for that tax refund to hit your bank account. If you’re expecting a tax refund this year, here’s how you can check your tax refund status — and when you can expect to have that cash in hand. Ways to check the status of your

Simplifying Germany’s Income Tax System Skip to content Home • Blog • Simplifying Germany’s Income Tax System: A Path Toward Fairness and Efficiency Germany’s income taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.

Updated for tax year 2024. You’ve probably heard the phrase, “You can deduct that,” a lot around tax season. But what exactly does that mean? In this article, we’ll be discussing how to reduce your tax bill with tax credits, as well as how to reduce your taxable income with tax deductions. To do this,

Tax Season: Another Reminder That Our Tax Code Is Too Complex Skip to content Home • Op-eds • Tax Season Is Another Reminder That Our Tax Code Is Too Complex The 2025 US taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the

Being a small business owner can come with valuable tax breaks, but sometimes, navigating the complexity of small business taxes can be tricky. One tax deduction that can be particularly confusing is bonus depreciation. In this guide, we’ll cover the ins and outs of bonus depreciation to help you understand this deduction better and ultimately

Options to Offset Tax Cuts: Tax Credits, Tax Expenditures Skip to content Home • Blog • Cleaning Up the Tax Code Could Raise Trillions for Tax Reform Key Points Preferences in the taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs

Both the Internal Revenue Service (IRS) and the state of California have granted tax relief for recent wildfire victims in southern California. If you were impacted by the fires in Los Angeles County, this gives you more time to file your 2024 income tax return and make any necessary tax payments. Let’s break down what

State Sales Tax Rates Five states forego statewide sales taxes: Alaska, Delaware, Montana, New Hampshire, and Oregon. Of these, only Alaska allows localities to impose local sales taxes. California has the highest state-level sales tax rate, at 7.25 percent.[1] Four states tie for the second-highest statewide rate, at 7 percent: Indiana, Mississippi, Rhode Island, and