Taxes

Placing Harris and Trump Tax Plans in Historical Context Skip to content Home • Blog • Placing Harris and Trump Tax Plans in Historical Context Presidential candidates Donald Trump and Kamala Harris have both called for substantial changes to the US taxA tax is a mandatory payment or charge collected by local, state, and national

Updated for tax year 2024. Being a small business owner comes with some unique challenges — including figuring out how small business taxes work. The good news? We’re here to spill the essential small business tax deduction secrets to help you lower your tax liability and keep that hard-earned money in your pocket. As a

Did you receive Form 1099-Q this tax year? The Internal Revenue Service (IRS) requires payers to send you this tax form if you took distributions from a tax-advantaged education investment account such as a 529 plan or Coverdell education savings account (ESA). Whether you’re a parent or a student, we’re here to help you understand

Because the Internal Revenue Service (IRS) doesn’t automatically send out periodic account statements, it’s easy to wonder about the status of your account. True, you’ll get letters from the IRS if you have overdue amounts from a past year, or if the IRS believes you have made a mistake on your return. But that doesn’t

Updated for tax year 2024. No doubt about it, winning the lottery dramatically changes a person’s life. A financial windfall of that magnitude quickly grants you a level of financial freedom you probably have trouble imagining. But becoming a Mega Millions or Powerball jackpot winner doesn’t change everything. If you are the lucky winner, you

Trump Americans Abroad Tax Compliance Relief Proposal Skip to content Home • Blog • Americans Abroad Need Compliance Cost Relief Last week, Republican presidential nominee Donald Trump stated “I support ending the double taxationDouble taxation is when taxes are paid twice on the same dollar of income, regardless of whether that’s corporate or individual income.

Are you wondering why you owe so much in taxes this year? Want to make sure your tax bill is correct and not pay more than you owe when you file your federal tax return come tax season? At a glance: Common reasons for owing taxes include insufficient withholding, extra income, self-employment tax, life changes,

Kamala Harris Tax Plan 2024: Details & Analysis Skip to content Table of Contents Topline Preliminary Estimates 10-Year Revenue (Billions) +$1,697 Long-run GDP -2.0% Long-Run Wages -1.2% Long-Run FTE Jobs -786,000 Tax Foundation General Equilibrium Model, September 2024. With less than two months left in the 2024 presidential campaign, Vice President Kamala Harris has sketched

If you are a member of a cooperative who received patronage dividends last year, you might find yourself holding Form 1099-PATR this tax season. Not sure what to do with this form? We’ve got your back. In this guide, we’ll go over everything you need to know about Form 1099-PATR, including why you received it,

Recent Changes to State GILTI Tax Base Treatment States’ treatment of GILTI has not changed significantly in recent years. Since our last map update on May 20, 2021, only two states, New Jersey and Minnesota, amended their state tax codes or provided supplementary regulatory guidance that invokes GILTI tax base changes: New Jersey decreased its

Have you ever wondered how to make sense of Form W-2? A W-2 form is more than just a piece of paper; it’s a breakdown of your income, taxes, and other important details that your employer must provide to you and the IRS. This guide will explain everything you need to know about Form W-2,

More Competitive EU Tax System: Recommendations | TFE Skip to content Home • Blog • What Does Moving Toward a More Competitive EU Tax System Mean? “There are two kinds of European nations. There are small nations and there are countries that have not yet realized they are small nations.” This quote by a former