by Pierre Philantrope | Feb 9, 2022 | Tax Tip
Taxpayers tax filing status is extremely important. They are 1) Single, 2) Married Filing Jointly, 3) Married Filing Separately, 4) Head of Household, and 5) Qualifying Widow/er with dependent child. Your filing status determines your filing requirements, your tax...
by Pierre Philantrope | Feb 1, 2022 | Tax Tip
The earned income tax credit (EITC) is not for every taxpayer. As your income increases, the credit is reduced and it is phased out at an income threshold. Be more alert by looking for any schedule A or schedule C on your tax return if you are not self employed and...
by Pierre Philantrope | Dec 15, 2021 | Tax Tip
As you could see from the previous tips, due to the enactment of legislation to offset the economic burden brought by COVID-19, there is a lot to consider when reviewing your year-end tax planning options. Pandemic-related tax breaks include an expanded dependent care...
by Pierre Philantrope | Dec 8, 2021 | Tax Tip
Careful tax planning strategies could help taxpayers save in taxes. As business owners, there are six powerful business tax deduction strategies that business owners could understand and implement before the end of tax year 2021. 1. Prepay Expenses Using the IRS Safe...
by Pierre Philantrope | Nov 24, 2021 | Tax Tip
We are close to the end of the tax year. Taxpayers have until December 31 to take steps to fund or establish their retirement plan to save in taxes. There are four things to consider. 1. Establish Your 2021 Retirement Plan Do you or your company have a retirement plan...
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