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Tax Due Dates for March 2023 - March 2023 (Money)
March 1Farmers and Fisherman - File your 2022 income tax return (Form 1040 or Form 1040-SR) and pay any tax due. However, you have until April 18 to file if you paid your 2022 estimated tax by Jan...
Mukesh Makker
QuickBooks for a More Productive and Prosperous 2023 - March 2023 (Money)
With the new year well underway, it is time to assess where you are with your finances and consider where you'd like to be. If you've been able to use the guidance offered last month, your accounts re...
Mukesh Makker
The Employee Business Expense Deduction - March 2023 (Money)
Before tax reform, an employee could deduct unreimbursed job expenses and other miscellaneous expenses that were more than two percent of adjusted gross income (AGI) as long as they itemized instead o...
Mukesh Makker
Small Business: Rent Expenses May Be Tax-deductible - March 2023 (Money)
If you're a small business owner just starting out, you may not realize that some rent expenses may be deductible on your tax return. Here are some things small business owners should keep in mind whe...
Mukesh Makker
New Online Option for Certain IRS Notices - March 2023 (Money)
Taxpayers who receive certain notices requiring them to send information to the IRS can now submit their documentation online through IRS.gov. This new secure step will allow taxpayers or their tax pr...
Mukesh Makker
There's Still Time To Make an IRA Contribution for 2022 - March 2023 (Money)
If you haven't contributed funds to an Individual Retirement Account (IRA) for tax year 2022 or put in less than the maximum allowed, you still have time to do so. You can contribute to either a tradi...
Mukesh Makker
Social Security Benefits: Are They Taxable? - March 2023 (Money)
Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Generally, you pay feder...
Mukesh Makker
Refundable vs. Non-refundable Tax Credits (Money)
Tax credits can reduce your tax bill or give you a bigger refund, but not all tax credits are created equal. While most tax credits are refundable, some credits are nonrefundable. Still, before we loo...
Mukesh Makker
Tax Implications When Employed in the Family Business - March 2023 (Money)
When a family member employs someone, the tax implications depend on the relationship and the type of business. Taxpayers and employers need to understand their tax situation. Here is what to know: Mukesh Makker
What To Do if You're Missing Important Tax Documents - March 2023 (Money)
As the April 18th tax deadline quickly approaches, last-minute tax filers should make sure they have all their documents before filing a tax return. You should have received a Form W-2, Wage and Tax S...
Mukesh Makker