Direct Tax

2025 Tax Changes for Seniors: A Mid-Year Guide to What’s New and What’s Next

Welcome to your mid-2025 tax check-in! As we navigate this year, it's crucial for seniors to understand two things: the…

7 days ago

Income‑Tax Calculator (AY 2026‑27)

Income‑Tax Calculator • AY 2026‑27 Income‑Tax Calculator (AY 2026‑27) Basic Information Age Category < 60 yrs 60 – <80 yrs 80 yrs & above Choose Regime New (default)…

1 week ago

Canada Tax Filing Deadlines for 2025: Individuals, Businesses, Trusts

Staying on top of Canada’s tax deadlines helps avoid penalties, interest, and delays in refunds or benefits. Here's a detailed…

2 weeks ago

Understanding Schedule K-1 from Form 1065: What Each Box Means

Understanding Schedule K-1 from Form 1065: What Each Box Means If you’re a partner in a partnership or a member…

2 weeks ago

Why You Don’t Need to Track Medical Expenses for State Returns in Florida

Florida residents have the advantage of living in one of the few U.S. states that do not impose a personal…

2 weeks ago

Why Medical Expense Deductions Aren’t Allowed on Kentucky State Taxes

Medical expenses can be a significant burden for many households, especially for those with chronic conditions, disabilities, or high out-of-pocket…

2 weeks ago

Why Illinois and Pennsylvania Don’t Allow Itemized Deductions for Medical Expenses

When it comes to state income taxes, each U.S. state follows its own path—some conform closely to the federal tax…

2 weeks ago

Which States Allow 100% Medical Deduction Without AGI Threshold?

Medical expenses can place a significant financial burden on individuals and families. While the federal tax code allows taxpayers to…

2 weeks ago

When to File IRS Form 4868 or 7004: Avoiding Late Filing Penalties

Filing an extension with the IRS is a crucial tool for both individuals and businesses who need additional time to…

2 weeks ago

What Your Capital Account Tells You: Understanding Box L of Schedule K-1

Box L on Schedule K-1 (Form 1065) might seem less glamorous than income or deduction entries, but it carries crucial…

2 weeks ago

This website uses cookies.