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When it comes to student loan forgiveness, repayments, and taxes, there are several important factors to consider These topics can have significant implications for borrowers. Here’s an overview of what you need to know: Read also: “Student Loan Calculator“ Remember, the information provided here is general in nature and should not be considered as specific… [Read More]

Tax laws can vary by jurisdiction and individual circumstances. It’s important to note that tax law changes can have wide-ranging impacts on individuals, businesses, and the economy as a whole. Understanding these changes is crucial for taxpayers to navigate their obligations and make informed financial decisions. Here are some general changes that occurred in 2022…. [Read More]

Tax essentials for crypto investors While tax regulations can indeed vary by jurisdiction when it comes to cryptocurrencies, here are some general considerations for crypto taxation: Read also: “Crypto Taxes: Do I Need To Report My Gains And Losses?“ Given the evolving nature of cryptocurrencies and the complexities of tax regulations, it is crucial for… [Read More]

Yes, the IRS can seize or offset your tax refund under certain circumstances: If your refund is going to be offset, you’ll typically receive a notice from the IRS or other federal agency involved, explaining the reason for the offset and providing information on how to dispute it if you believe it’s incorrect. It’s also… [Read More]

Tax treatment for homeowners who generate solar energy for personal use In most countries, including the United States, homeowners who generate solar energy for personal use do not have to pay taxes on the energy they generate. This is because the electricity generated by a home solar energy system is considered a personal use item… [Read More]

The federal solar tax credit, also known as the Investment Tax Credit (ITC), will be at a reduced rate in 2022 and beyond. To claim the federal solar tax credit, you will need to file IRS Form 5695 “Residential Energy Credits” with your federal tax return. You will also need to provide documentation of the… [Read More]

Discover significant tax savings for Georgia seniors with our expert guidance at Daniel Ahart Tax Service, ensuring you maximize your benefits while preparing for a smooth tax season.

Individuals and businesses in a federally declared disaster area According to an IRS announcement, storm victims in parts of Georgia now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). The… [Read More]

Georgia Will Give You A $3000 Tax Cut For Your Fetus The state’s “fetal personhood” provision now includes a $3000 tax exemption starting at around six weeks of pregnancy. As informed in a previously article, once the Supreme Court reversed Roe in June 2022, many expected the courts to revisit Georgia’s law. That effectively happened in… [Read More]

Yes, you may receive a Form 1099-K depending on the type of transactions. According to the IRS, if you accept payment cards (for example, credit card or debit cards) as a form of payment for goods you sell or services you provide, you will receive a Form 1099-K for the gross amount of the payments… [Read More]

Venmo and PayPal Tax Reporting Change Many Americans are bracing for a new reporting change for third-party payment networks like Venmo or PayPal. Starting in 2022, you’ll receive Form 1099-K, which reports income to the IRS, for business transfers over $600. If you receive a 1099-K for business transfers, you’ll also report that income, along with… [Read More]

Planning ahead can help people file an accurate return and avoid processing delays that can slow tax refunds. As wrote in a previous blog “What About a Tax Checkup?,” this is also definitely a good time for filers to prepare for next year’s tax season by reviewing withholdings, retirement contributions, child tax credits, unemployment income and more…. [Read More]