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SBS NOVA. Solid business plan + strategic outsourcing = smart business...

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Sbsnova.com news digest

  • 1 year

    File That Tax Return! October extension deadline fast approaching

    Monday, October 17th marks the extension deadline for filing your 2021 Form 1040 tax return. Given all the recent tax legislation, numerous stimulus checks and COVID-related tax changes, there are more open tax return filings than ever!
    If you have not filed a tax return and don’t think you need to file one, please reconsider. Billions of refunds go unclaimed each year by taxpayers that really should file a tax return....

  • 1 year

    Effective and Marginal Tax: Know Yours! Understanding the difference between the...

    The tax code is filled with terms we rarely use in everyday conversation. Two of the more common are Marginal Tax Rates and Effective Tax Rates. Knowing what they mean can help you think differently about your potential tax obligation.
    Definition
    Marginal Tax Rate: This is the tax rate applied to the next dollar you earn. Since our income tax rates are progressive, the next dollar you earn could be taxed at as little as zero or as high as 37%!...

  • 1 year

    Reduce Your Medical Expenses Tax smarts that make a difference

    Medical expenses are on the rise. According to the Milliman Medical Index, the average family of four on an employer-sponsored plan will spend $30,260 on healthcare in 2022 – a $4,699 increase from 2020. Below are some ways you can save tax dollars when...

  • 1 year

    The New $7,500 Tax Credit That Isn’t What you need to know

    A highly-touted tax credit in the recently-passed Inflation Reduction Act is meant to incentivize Americans to purchase electric vehicles or other clean burning fuel vehicles. The bottom line, however, is that practically speaking YOU CAN’T GET IT.
    Why few credits will be seen...

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