taxes

IRS Form 1116 Explained Americans who are working abroad can save money on taxes by claiming the foreign tax credit using IRS Form 1116, Foreign Tax Credit. Table of Contents…

IRS Form 2848 Explained Table of Contents Key Takeaways: IRS Form 2848, Power of Attorney and Declaration of Representative, is a tax form used to appoint a power of attorney…

Work Opportunity Credit Explained Table of Contents Key Takeaways: The Work Opportunity Tax Credit (WOTC) is a federal tax credit offered by the IRS to eligible employers who hire employees…

Residential Energy Credit Explained It is unsurprising to most people that non-renewable energy sources can only support our residential, commercial, and industrial power needs for so long, and that eventually,…

Retirement Saving Contribution Credit Explained If you are planning your wealth management strategies for investing, you may have looked into the different areas where you can apply the money you've…

Adoption Credit Explained Adopting new children into the family brings an indescribable level of joy, pride, and happiness. However, despite the love and satisfaction that grows from this amazing accomplishment,…

State Unemployment Tax Act (SUTA) Explained Employers have many factors to consider when it comes to taxes - not only do they have to maintain compliance with their personal tax…

Federal Unemployment Tax Act (FUTA) Explained TABLE OF CONTENTS What Is FUTA?Who Has To Pay FUTA Taxes?Which Wages Are Not Subject To FUTA Tax?How To Pay FUTA TaxesHow To Calculate…

Medicare Taxes Explained One of the most exciting parts about turning 65 is the opportunity to receive Medicare healthcare insurance that covers visits to your healthcare provider, but even if…

FICA Taxes Explained TABLE OF CONTENTS What Are FICA Taxes? What Is Medicare? What Is Social Security? How To Pay FICA Taxes FICA Tax Rates FICA Tax Limits Who Has…