Credits, Deductions

We’ve all heard of tax credits and tax deductions. And we know that tax credits and tax deductions are good things. And that they can save you money come tax time. But have you ever considered how they work? And if there’s a difference between them? In this post, we’ll take a closer look at…

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Financial update on coronavirus (COVID-19)

On Tuesday, Treasury Secretary Steven Mnuchin announced that the tax filing deadline for US taxpayers to pay income taxes for 2019 will be pushed back by 90 days in an effort to soften the financial fallout from the corona-virus outbreak. The reprieve applies for up to $1 million in taxes owed, and would cover many…

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how the rich pay less tax post size

The wealthiest paid overall a lower tax rate than average due to what the IRS shows they do differently. The ultra-rich save the most tax, according to IRS statistics. And over 90% of them have one thing in common. They do not sign their own returns. They hire tax pros instead. It shows they paid at…

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