Category: US Taxation

The Alternative Minimum Tax (AMT) runs alongside the regular income tax system, ensuring that certain taxpayers pay a minimum amount of tax. To prevent middle‑income earners from being caught off guard, the IRS makes annual updates to AMT parameters. For...

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The Alternative Minimum Tax (AMT) was originally designed to ensure that high-income earners who benefit from various deductions and credits still pay a minimum level of tax. Over time, however, the AMT has affected a broader range of taxpayers due...

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As families prepare for the 2025 tax season, it's crucial to understand the latest changes to IRS Form 1040 and how these updates could affect filing strategies, deductions, credits, and ultimately, refund or payment outcomes. The IRS has made several...

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As health care costs continue to climb, the IRS has increased the annual contribution limit for Health Flexible Spending Accounts (Health FSAs) in 2025. If your employer offers a Health FSA, this change presents a crucial opportunity to maximize your...

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IRS Form 1040-NR is the tax return used by nonresident aliens of the United States to report income earned within the U.S. It is critical for foreign nationals who receive wages, operate a business, or derive income from U.S. sources....

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As the end of the year approaches, tax planning becomes a critical task for businesses and individuals alike. Proper year-end tax planning can help minimize tax liabilities, take advantage of available deductions, and ensure that taxpayers are in full compliance...

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Filing taxes can be a daunting task for business owners, especially when it comes to complex forms like Form 1065, the U.S. Partnership Return of Income. While there are numerous online tools and software that promise an easy do-it-yourself (DIY)...

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Sales and use tax compliance can be a daunting and time-consuming process for U.S. CPAs. With constantly changing regulations, varying rates across states, and numerous exemptions, it’s easy to see why this area of tax compliance can be overwhelming. To...

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In the fast-paced world of tax preparation, efficiency, accuracy, and reliability are paramount. As U.S. CPA firms face increasing demands to deliver high-quality tax services to their clients while managing costs, outsourcing tax preparation has become a strategic solution. PEAK...

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As U.S. businesses and their CPAs face increasing pressure to streamline operations, reduce costs, and meet growing client demands, many are turning to outsourcing for help. One area where outsourcing is becoming more common is in the preparation of tax...

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