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Corporate Tax Return Prep

Corporate Tax Return Prep

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Archives for October 2021

Filing as Married Separate? Better Read This.

October 20, 2021 by Alex Franch, BS EA

Married taxpayers have two options when filing their 1040 or 1040-SR tax returns. The first and most frequently used filing status is married filing joint (MFJ), where the incomes and allowable expenses of both spouses are combined and reported on one tax return. The joint status almost always results in the lowest overall tax. Spouses […]

Filed Under: Tax Filing, Tax Form 1040 Tagged With: earned in come tax credit, IRA, married, married separate, roth ira, social security

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Higher Income Individuals Beware

October 6, 2021 by Alex Franch, BS EA

The House Ways and Means Committee has released an extensive list of proposed tax changes that impact individual, retirement, international and corporate tax law. We have been selective and have only included a portion of the proposed changes. A full list of proposed changes is available from the PDF file titled Responsibly Funding Our Priorities.

Filed Under: Deductions, Itemized Deductions Tagged With: income tax, IRA, tax changes

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