The Coronavirus, Aid, Relief, and Economic Security (CARES) Act made it easier to access savings in IRAs and workplace retirement plans for those affected by the coronavirus. This relief provided… Read More
The Takoma Park City Council is holding two public hearings on Wednesday, April 28 to discuss the proposed FY22 tax rate and budget. At the hearings, the city will propose… Read More
The gig economy is also referred to as the on-demand, sharing, or access economy. People involved in the gig economy earn income as a freelancer, independent worker or employee. Typically,… Read More
The federal income tax filing due date for individual taxpayers, including individuals who pay self-employment tax, has been extended to Monday, May 17, 2021, for the 2020 tax year. There… Read More
Con la aprobación más reciente por parte del gobierno federal del paquete de estímulo económico, a raíz de la crisis desatada por el Covid-19, muchas personas se están preguntando: ¿Dónde… Read More
Apps like Robinhood make it easy for everyone to play the stock market. If you’re a retail investor who made money last year buying and selling stocks, you may owe… Read More
Tax changes due to recent legislation such as the Tax Cuts and Jobs Act and the CARES Act affect both individual taxpayers and small businesses. In 2020, the IRS issued… Read More
The Treasury Department and Internal Revenue Service (IRS) are extending the deadline to file 2020 federal income taxes from April 15 to May 17. The IRS said in a statement that… Read More
If you have children, one or more of these tax credits and deductions could help your family reduce the amount of tax owed when you file your 2020 tax return.… Read More
The deadline to file state income taxes in Maryland has been extended by three months to July 15, Comptroller Peter Franchot announced Thursday. This extension is due to state and… Read More
In general, income from renting a vacation home for 15 days or longer must be reported on your tax return on Schedule E, Supplemental Income and Loss. You should also keep… Read More
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable… Read More