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Huddleston Tax CPAs | Accounting Firm In Seattle

Huddleston Tax CPAs | Accounting Firm In Seattle

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Taxes

two computers with a padlock superimposed in front of them

May 19, 2023 By john

The IRS is testing a free tax filing software

The Internal Revenue Service (IRS) is testing a new free tax filing software program that could make it easier for millions of Americans to file their taxes. The program, called IRS Free File, is a public-private partnership between the IRS and a group of tax preparation companies.IRS Free File

Filed Under: Taxes

a woman sitting at her desk thinking about how she made a mistake on something

April 21, 2023 By john

How to Amend a Tax Return

This year's tax season has come to a close -- unless you live in California, in which case you've been granted an automatic 6 month extension due to fires and floods. Of course, there's nothing worse than finishing your taxes and second-guessing what you submitted.If you have made a mistake on

Filed Under: Taxes

handshaking a digital hand in compliance

March 24, 2023 By john

How To Ensure We All Pay Our Fair Share

In the US alone, we lose around $500 billion in taxes yearly. When you hear about people keeping money in offshore bank accounts to avoid paying taxes, it’s costs the economy a lot more than their individual sum – it’s costing billions of dollars over time.Offshore bank accounts are one of the

Filed Under: Taxes

January 6, 2023 By john

Prepare for the Tax Bracket Changes in 2023

Your income tax rate paid varies based on your level of income. Those in higher income tax brackets pay a larger share of their income in taxes. To account for rising prices in the United States, the Internal Revenue Service raised tax bracket thresholds for the next tax year, 2023. As a result,

Filed Under: Taxes

laptop open to a ecommerce site

December 2, 2022 By john

Sales Tax Rules for Online Sellers

Several states mandate businesses to charge and collect sales tax from their customers. Generally speaking, the onus of collecting and remitting sales taxes lies squarely on the shoulders of business owners in states that impose such levies. Online retailers in some states are exempt from collecting

Filed Under: Taxes

a house with a two red cars parked outside and solar panels on the roof

November 25, 2022 By john

The Federal Solar Tax Credit for Homes in the United States

The government of the United States encourages its citizens to utilize solar power energy to reduce climate change brought about by the excessive emission of greenhouse gases into the atmosphere. This has resulted in the government offering tax reliefs and tax credits to individuals, firms,

Filed Under: Taxes

November 18, 2022 By john

Is My Inheritance Taxable?

When you receive assets from your parents that come from their estate, this is considered a taxable event. It may seem like there are no taxes due on the purchases you receive if your parents were exempt from income tax, but this is not the case. If your parents' estate is valued over the exclusion

Filed Under: Taxes

November 11, 2022 By john

How Are Bonuses Taxed And How To Lower Tax Liabilities

Bonuses are taxed as income, and the IRS will work hard to identify the amount you received. There are several tax deductions that you can claim in order to reduce your tax liabilities.Since bonuses are taxed as income, they must be included in gross income before any allowable deductions and

Filed Under: Taxes

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