TaxCure Blog

There are several types of miscellaneous tax deductions that are not subject to the adjusted gross income 2 percent limit. These deductions can be listed as miscellaneous itemized deductions:

When it comes to paying your taxes, you have a few options. The IRS accepts checks of course, and even offers a payment plan for those who are having difficulties paying what they owe. It’s also possible to pay your tax bill with a credit card.

When the Patient Protection and Affordable Care Act (PPACA) was passed in 2010, challenges to its constitutionality began wending their way through the courts almost immediately. It wasn’t a surprise when the United States Supreme Court announced that it would take the case since the PPACA was such a hot-button issue.

Unfortunately, there are quite a lot of people in the world who try to use identity fraud to get what belongs to someone else. One of the ways that identity thieves can try to get their hands on what belongs to you is by filing a tax return using your Social Security number. If you are eligible for certain credits that result in a refund, a fraudster can file a return – and possibly get your money. Additionally, the situation might result in a failure to file fee, thanks to difficulties getting the information submitted.

Small businesses are often considered the backbone of our economy. In order to help small businesses grow, the government often provides different tax credits. These tax credits can provide incentives that keep costs down for small businesses, and can even help the economy as small businesses are able to hire more workers and provide benefits.

When you work from home, whether you are telecommuting and doing work for an employer, or whether you are running a home business, you may have the option to take a tax deduction for the business use of your home. The home office deduction can be useful, but before you take it, you should consider the pros and cons associated with taking this tax deduction.

When we think of the IRS, few of us think about social media. However, the IRS does recognize that many taxpayers use social media regularly. As a result, you can get answers to tax questions, and get helpful tips year-round by taking advantage of the social media tools offered by the IRS.

An itemized tax deduction is a qualified expense by which a US taxpayer can claim on their Federal tax returns in order to lower their taxable income. Many tax deductions are subject to the 2% limit, which means you can only deduct expenses that are 2% above your adjusted gross income (AGI). However, there are tax deductions that can be taken without itemizing your return, called above-the-line tax deductions, and can help you save money even if you take the standard deduction.

The debate over US Corporate tax rates recently has been a hot topic of debate among politicians, economists, the media, and more. Some have stated that the US has the highest corporate statutory tax rate in the world, while others state that the effective tax rate is lower. They are both right, but what about the US effective corporate tax rate vs. other developed countries?

One of the most discouraging financial situations to be in has to do with being unable to pay your tax obligation. Thousands of Americans feel this sensation every year. However, the IRS has a program designed to ease some of the burdens.