There are seven federal tax brackets for the 2020 tax year: 10% 12% 22% 24% 32% 35% 37% Your bracket depends on your taxable income and filing status. You only pay taxes on your taxable income. To determine your taxable income, you need to subtract any adjustments from your gross income. Adjustments to Income include […]
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You probably became a food delivery driver sometime in 2020 and now you’re thinking about filing your taxes. As an independent contractor your taxes are more complicated than working for someone else. This article will help you put together all the information you’ll need so you can maximize your tax deductions and reduce what you […]
You probably became an Instacart shopper sometime in 2020 and now you’re thinking about filing your taxes. As an independent contractor your taxes are more complicated than working for someone else. This article will help you put together all the information you’ll need so you can maximize your tax deductions and reduce what you would […]
Tax planning requires staying up-to-date with new tax laws and Connecticut has some significant tax law changes for 2021. Here we go over some of these new tax laws. Connecticut began phasing out its capital stock tax. Connecticut is continuing to phase in an increase to its tax exemption for pension and annuity income. The […]
Don’t leave money on the table by overlooking these tax deductions. See the ten most common deductions taxpayers overlook on their tax returns so you can keep more of your hard-earned money in your pocket. Don’t miss out on any of the more than $1 trillion in tax deductions. The most recent data show that […]
