Category: Individual

Living Trust

HOW DO TAXES WORK IN A LIVING TRUST?

A Living Trust is typically a Revocable Trust, which means that the Grantor has the…
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Hobby or business: What people need to know if they have a side hustle

Issue Number: Tax Tip 2024-55 Hobbies and businesses are treated differently when it comes to…
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Summer activities that could affect people’s tax returns next year

IRS Issue Number:  Tax Tip 2024-53 While summer is a time for fun, it’s never…
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IRS: Home improvements could help taxpayers qualify for home energy credits 

[ Issue Number:    IR-2024-137] WASHINGTON – The Internal Revenue Service reminds taxpayers that making…
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Interest rates remain the same for the third quarter of 2024 

[Issue Number:    IR-2024-138] WASHINGTON — The Internal Revenue Service today announced that interest rates…
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Taxpayers must file and pay taxes even if they live abroad

[Issue Number: Tax Tip 2024-48] It’s important that U.S. citizens and resident aliens living abroad…
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NJ-W4

TAX YEAR 2024: Form NJ-W4: What is it? How to fill it out.

The NJ Employee’s Withholding Allowance Certificate, also known as Form NJ-W4, is a New Jersey…
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Tax Year 2024: Received CP22A from IRS? What is the next step?

The IRS CP22A notice is a communication from the Internal Revenue Service (IRS) that informs…
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Form W4, Withholding Tax.

Tax Year 2024: W-4 Form: What It Is, How to Fill It Out.

Introduction: Employers use the W-4 to calculate certain payroll taxes and send the taxes to…
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Amendment of federal tax return

Tax Year 2024: When to Amend A Federal Tax Return.

Source Issue Number:  Tax Tip 2024-38. When a taxpayer realizes that their federal tax return…
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