Individuals are always looking for a tax deduction that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer. Some deductions are “above the line” while others must be itemized. Some tax deductions must exceed a threshold amount before being deductible. Then there …
Tax Credits
Do You Understand Tax Lingo?
It helps to understand the tax lingo used by tax professionals when discussing taxes. Reading tax-related articles or trying to decipher tax form instructions can be more than frustrating when you don’t know what the acronyms mean. And it can be next to impossible to understand tax strategies if you are not familiar with the …
Understanding Tax Lingo – A Primer For Beginners
Understanding tax lingo certainly helps when discussing taxes, reading tax related articles or interpreting instructions on your tax return. To fully grasp the meaning of what is being said, it helps to know what the basic acronyms and words being used by tax professionals are. It can be difficult to understand tax strategies if you …
