If you are thinking about refinancing your current home loan, consider the tax ramifications before making your decision, as the 2018 tax reform made some changes that may impact it.
If your child received Social Security, Supplemental Security Income, Department of Veterans Affairs or Railroad Retirement Board benefits and did not file a tax return for 2018 or 2019, they may be eligible for an Economic Impact payment.
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about—or one that you do know about but are ignoring.
The WOTC is typically worth up to $2,400 for each eligible employee, but it can be worth up to $9,600 for certain veterans and up to $9,000 for “long-term family assistance recipients.”
Regardless of who wins the next election, with rising deficits, government spending skyrocketing, and revenue dropping due to the COVID-19 pandemic, taxes will surely go up in coming years.