The United States Department of the Treasury expects taxpayers to “pay no more than the correct amount of tax.” It is plausible that the Internal Revenue Service (IRS) receive declarations such as easier said than done, I did not know I could not deduct that expense, my...
So, what’s next? This is a typical question after a series of challenges. The year of 2020 (like other years such as 1914) has been eye opening to the world. Another popular adage is “live and let live.” Various interpretations of this phrase exist. In...
The 2020 tax season ended on July 15. However, the tax year is in full effect. Most taxpayers account for their self-assessment tax obligation within a calendar year (e.g., January - December). Below are a few suggestions (limited scope) on how to prepare for the...
The Internal Revenue Service (IRS) advocates for taxpayers to pay only the tax owed. In fact, one of the ten Taxpayer Bill of Rights involves the right to pay no more than the correct amount of tax. There are several reasons why taxpayers may overpay...
Life is full of surprises. Some of which many people find delightful (or challenging). Throughout life, situations will pop up that there are no brakes to stop. Avoiding the tendency to overreact, using qualities such as soundness of mind and balance may lessen the impact...
The CARES Act acronym has a lot of meaning by design. One of the goals of the Conronavirus Aid, Relief and Economic Security Act is to reduce the COVID-19 pandemic’s damage to the United States (U. S.) economy. A few of its key provisions are...