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Apr 3, 2025A government tax benefit meant to promote the acquisition of electric cars (EVs). This nonrefundable credit can help lower a taxpayer’s responsibility when purchasing a qualifying EV. Qualifying for the Credit A car has to satisfy the following requirements to be eligible for the credit: Amount of Credit Applying for the Credit Phase-Outs and Limitations […]
adminApr 3, 2025Introduced under the Tax Cuts and Jobs Act (TCJA) of 2017, the Qualified Business Income (QBI) Deduction lets qualifying self-employed people and pass-through business owners deduct up to 20% of their taxable income from their qualified business income. Small business owners, freelancers, and some investors benefit from this deduction in terms of tax load. Who […]
adminApr 3, 2025Though knowing the fundamentals will help you navigate through the procedure easily, living in one state and working in another can make tax filing a little more difficult. State Income Tax Obligations Reciprocity Understandings Credits for Nonresident Taxes Remote Work Issues to Think About Withholding Adjustments and Filing Deadlines While certain states might vary, filing […]
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