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As the social media world expands blogging and vlogging (video blogs) activities have been on the rise. These activities have become so profitable that many individuals have been pursuing it on a full-time basis, and earning significant income to support their lifestyle. Since blogging is sometimes treated like a paid hobby which can be pursued...
Earlier this month, AG Tax provided a summary of the estimated tax brackets for 2014, together with certain inflation-sensitive tax figures, such as personal exemption, the standard deduction, and tax benefits. The IRS has now confirmed these rates. Inflation causes a rise in the price levels of goods and services over a period of time and...
Inflation causes a rise in the price levels of goods and services over a period of time and lowers taxpayers’ purchasing power per unit of money. The IRS acknowledges the effect of yearly inflation, and implements mandatory upward inflation-adjustments each year. CCH has recently released estimated ranges for each 2014 tax bracket together with certain...
For most U.S. taxpayers the automatic six-month extension to file tax returns expires on October 15, 2013 (other than the military and individuals serving in combat zones, or people from regions affected by storms, flooding and landslides). The Internal Revenue Service (IRS) urges taxpayers who requested for the automatic extension to re-check their returns for certain...
Education is important but expensive. In order to support those striving to obtain higher education, the US Congress has enacted certain tax benefits that can help you offset some of the costs of college. At AG Tax our professional accountants are often asked what credits and deductions are available to the taxpayer in regards to...
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