Charitable contributions are deductible, says the IRS, only if you itemize deductions. And further, they are deductible only if you make contributions to qualified charitable organizations. The tax agency reminds […]
Tag: IRS
Everything You Need to Know About Tax-Exempt Status
Have you ever wondered how you’re supposed to determine whether your organization is eligible for exemption from federal income tax? The possibility of being tax-exempt is permitted under section 501(a) […]
Deadline: 4th Quarter 2023 estimated tax payment due
Make a payment of your estimated tax for 2023 if you didn’t pay your income tax for the year through withholding (or didn’t pay in enough tax that way). Use […]
Is Your Withholding Correct?
All year long, employers withhold income tax from the paychecks of their employees. Each paycheck is distributed to you after your employer has taken out a portion of your paycheck […]
What Taxes Do Businesses Have To Pay?
If you’re running a business, you’re on the hook for a variety of taxes. Let’s take a look at the main categories: Income tax — All businesses except partnerships must […]