We recommend you organize your expenses incurred during this year 2023 in order to achieve the maximum deductible amount for the upcoming tax season. Our gift for being an ITax client is our check-list “Guide to detailed expenses and income Independent...
Summer vacations are here and of course, we think about trips, breaks, family outings, and tourist destinations, we put aside our responsibilities and just want to enjoy a few days without pressure. Summer is also the season, together with Christmas, when we spend the...
Once your company is formalized, you are responsible for the timely payment of a variety of local, state and federal taxes, just as your employees are responsible for paying taxes on their income. Taxes vary depending on the market in which your business operates, the...
Apart from federal taxes, companies and individuals who hire domestic employees are liable for other taxes such as Federal Insurance Contributions Act (FICA), Federal Unemployment Tax Act (FUTA) and state or local taxes. Here are some of them FICA Taxes Federal...
Knowing the elements that make up your bank statement is as important for your personal finances as it is for filing a proper tax return. The bank statement is the summary that is generated when you make money movements such as bank transfers or debit and credit card...
In the last few days, we have been learning about changes offered by the IRS on general and individual deduction amounts that could affect the way we have been filing our personal tax returns, especially if done without the help of a professional tax accountant. Here...
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