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Atcincometax.com news digest

  • 6 years

    Answers to Most Asked Tax Questions of 2017

    With all the changes brewing in tax law, it’s no wonder people are confused about their 2017 tax returns. We answer the most asked tax questions of 2017 below.
    When Will the New Tax Law Be Effective?
    The new tax laws for individuals and businesses take effect as of January 1, 2018. This doesn’t impact your 2017 taxes, which you will file in April....

  • 6 years

    Is Your Side Hustle Taxable?

    Side Income or Hobby – What’s the Difference?
    If you earn money from a side hustle or income—a hobby that makes money for at least three out of the past five years, a time-consuming freelance writing gig, selling stuff on eBay, for example—the IRS expects you to report it and pay income tax on it...

  • 6 years

    2018 New Tax Plan – Everything You Need to Know

    Standard Deduction “Doubled”?
    The new standard deduction has been simplified.
    With the elimination of the valuable personal exemption, the standard deduction has roughly doubled for all filers. For example, currently a single filer would be entitled to claim a standard deduction of $6,500 and personal exemption of $4,150 in 2...

  • 6 years

    4 Secrets to a Higher Tax Refund in 2018

    January 29th marks the date when you can file your taxes, so it’s time to find the secrets to a higher tax refund. The tax bill recently passed and added many changes that you need to be aware of, along with a few ways to increase your refund in 201...

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