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Month: January 2022

Businesses That Make Structural Adaptations Or Other Accommodations For Employees Or Customers With Disabilities May Be Eligible For Tax Credits And Deductions.

Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions.https://tax-turbo.com/Here’s an overview of the tax incentives designed to encourage employers to hire qualified people with disabilities and to off-set some of the costs of providing accommodations. Disabled access creditThe disabled access credit is …

Businesses That Make Structural Adaptations Or Other Accommodations For Employees Or Customers With Disabilities May Be Eligible For Tax Credits And Deductions. Read More »

You May Be Able To Deduct The Cost Of Work-Related Education Expenses Paid During The Year

You may be able to deduct the cost of work-related education expenses paid during the year if you’re a: https://tax-turbo.com/ Self-employed individual, Qualified performing artist Fee-based state or local government official, or Disabled individual with impairment-related education expenses To be deductible, your expenses must be for education that (1) maintains or improves skills needed in …

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IRS Issues Standard Mileage Rates For 2022

IRS Issues Standard Mileage Rates For 2022  https://tax-turbo.com/   WASHINGTON — The Internal Revenue Service today issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.   Beginning on January 1, 2022, the standard mileage rates for the use of a …

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Tax Law Changes In The Tax Cuts And Jobs Act Affect Almost Everyone Who Itemized Deductions On Tax Returns They Filed In Previous Years

Tax law changes in the Tax Cuts and Jobs Act affect almost everyone who itemized deductions on tax returns they filed in previous years… One of these changes is that TCJA nearly doubled the standard deduction for most taxpayers. This means that many individuals may find it more beneficial to take the standard deduction. However, …

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Filing Your Taxes Early Can Help Protect Against Fraud. What To Prepare Now

Filing Your Taxes Early Can Help Protect Against Fraud. What To Prepare Now <img width=”740″ height=”416″ src=”https://tax-turbo.com/wp-content/uploads/2022/01/106617562-1594830305790gettyimages-1197483793.jpeg&#8221; alt=”” loading=”lazy” srcset=”https://i0.wp.com/tax-turbo.com/wp-content/uploads/2022/01/106617562-1594830305790gettyimages-1197483793.jpeg?w=740&ssl=1 740w, https://i0.wp.com/tax-turbo.com/wp-content/uploads/2022/01/106617562-1594830305790gettyimages-1197483793.jpeg?resize=300%2C169&ssl=1 300w, https://i0.wp.com/tax-turbo.com/wp-content/uploads/2022/01/106617562-1594830305790gettyimages-1197483793.jpeg?resize=600%2C337&ssl=1 600w” sizes=”(max-width: 740px) 100vw, 740px” /> The start of a new year means resolutions and a fresh start. It also means a new tax season. While many Americans may not want …

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Beginning On January 1, 2022, The Standard Mileage Rates For The Use Of A Car (Also Vans, Pickups Or Panel Trucks)

Beginning on January 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: https://tax-turbo.com/ 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021, 18 cents per mile driven for medical, or moving purposes for qualified active-duty members of …

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An Education Credit Helps With The Cost Of Higher Education By Reducing The Amount Of Tax Owed On Your Tax Return.

An Education Credit Helps With The Cost Of Higher Education By Reducing The Amount Of Tax Owed On Your Tax Return <h2><strong>An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces your tax to less than zero, you may get …

An Education Credit Helps With The Cost Of Higher Education By Reducing The Amount Of Tax Owed On Your Tax Return. Read More »

Tax-Loss Harvesting

Tax-Loss Harvesting <h2><strong>Tax-Loss Harvesting</strong></h2>What Is Tax-Loss Harvesting? Tax-loss harvesting is the selling of securities at a loss to offset a capital gains tax liability. This strategy is typically employed to limit the recognition of short-term capital gains. Short-term capital gains are generally taxed at a higher federal income tax rate than long-term capital gains. However, the method may also …

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Do You Own An Electric Vehicle?

Do You Own An Electric Vehicle? <h2><strong>Do You Own An Electric Vehicle?</strong><br /><a href=”https://tax-turbo.com/”>https://tax-turbo.com/</a><br />You may be eligible for a credit under Section 30D(a), if you purchased a car or truck with at least four wheels and a gross vehicle weight of less than 14,000 pounds that draws energy from a battery with at least …

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The Taxpayer Bill Of Rights: Protection For All Taxpayers

The Taxpayer Bill Of Rights: Protection For All Taxpayers <h2><strong>The Taxpayer Bill Of Rights: Protection For All Taxpayers</strong></h2>  Two key elements of the IRS mission are to treat taxpayers with dignity and respect, and to provide them a positive customer experience. The Taxpayer Bill of Rights outlines the ten specific rights all taxpayers have any time they …

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