Browsing Tag

tax benefits

Tax Time Treat: Up to $4,000 Windfall for Millions of Americans

Clark Baisa Dec 11, 2023

A significant development in US tax policy is underway as a House panel recently approved the Tax Cuts for Working Families Act (H.R.3936). The bill proposes a temporary expansion of the standard tax deduction, which could provide…

Jim Chalmers retricts tax benefits for superannuation accounts over $3 million

Clark Baisa Feb 28, 2023

Treasurer Jim Chalmers announced that Australians with more than $3 million in superannuation savings will lose their concessional tax rate. The highest yearly contribution that an Australian citizen can make to their superannuation fund…

Tax credits: Chip and electric vehicle companies are attracting an increase in corporate tax…

Dahlia Martyna Feb 25, 2023

States and communities with pandemic-stimulus funds are giving firms substantial tax incentives to attract new jobs. Eight times in 2022, states and local governments, including those in Georgia, Michigan, and West Virginia, committed to…

Tax benefits: What you should know before filing as IRS removes COVID-19 tax incentives?

Dahlia Martyna Jan 20, 2023

The Internal Revenue Service (IRS) stated that the elimination of tax benefits from the COVID-19 era will alter how taxpayers file deductions this year and will likely result in reduced refunds or larger tax obligations for many Americans.…

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