Question: I always wait until the last minute to file my taxes. Are there any benefits to filing my taxes early?
A : It's a new year and the April 15 tax deadline will be here before you know it. There are many benefits to being proactive during the tax season. As accountants, we appreciate our clients filing early, as it gives us more time to review the tax returns and ensure everything is submitted on time. Procrastinating on a tax return can often lead to mistakes, missing out on important tax deductions and credits.
Many things are taking place:
New year may be a good time to start thinking about taxes | PAhomepage.com
EYEWITNESS NEWS (WBRE/WYOU) — Turning the calendar means it may be a good time to start financial planning for the new year now before getting a big tax bill.
A survey shows 53 percent of people working from home plan to take a ‘home office tax reduction’, but they may not qualify. Experts also say the stimulus checks are not taxable, and you will not have to pay taxes on them.
But, unemployment benefits are taxable and anyone who collected, but did not withhold, will be impacted in April.
Analysis: Federal tax overhaul increased taxes on wealthy in many blue states | Opinion |
Speaker of the House Nancy Pelosi, D-Calif., heavily criticized the 2017 Tax Cuts and Job Act, but an analysis shows it did not benefit the wealthy as much as Pelosi predicted.
The 2017 Tax Cuts and Jobs Act, harpooned by progressive Democrats as a handout to wealthy corporations, turned out to be more progressive in practice, new data from the federal government revealed.
The federal tax reform measure supported by President Donald Trump increased taxes on some wealthy property owners in high-tax jurisdictions such as Illinois and New Jersey and decreased tax burdens on the middle class.
INSIGHTS | International tax havens safely sheltered in Colorado | Legislature |
Joey Bunch: "A government that shields out the people can't be trusted. End of story. I'm going home. ... Most of all, your inequitable share of megabits per second shouldn't squelch your access to information and participation."
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Imagine, if you will, a place where everyone has the same goal and fundamentally agrees on the solution, yet they can't stop bickering long enough to hear one another.
Joey Bunch: "Quietly in the background as this election and pandemic season unfolds, Colorado history is being written in advance. Either the war over oil and gas is ending or it's just getting started. People should be paying attention."
Other things to check out:
Taxes, COVID-19, education, voting to dominate 2021 Legislature | Coronavirus | unionleader.com
New Hampshire lawmakers will try to move beyond an unprecedented 2020 and start plowing through nearly 900 bills facing them in 2021.
A small number of teachers and school nurses in a few states have been vaccinated against the coronavirus, but most are still waiting amid a stumbling rollout of the vaccine across the country.
Double social security payroll tax to be taken out for some as 2021 begins
WRIGHT-PATTERSON AIR FORCE BASE — A smaller paycheck could be coming to some at Wright-Patterson Air Force Base, as double social security payroll taxes will be taken out to make up for the tax deferral that started last September.
"In an effort to provide temporary relief during the COVID-19 pandemic, the 6.2 percent social security payroll tax was deferred this summer," the base said in a release.
Tax debates feature many myths | Laurinburg Exchange
With Democrats in charge of the White House, and U.S. House, and (possibly as of this writing) the U.S. Senate, you can expect a push by left-wing activists and politicians to repeal some federal tax cuts enacted by the previously Republican Congress and signed by President Trump.
Here in North Carolina, pandemic-related concerns about state revenue collections, combined with fiscal demands from reelected Gov. Roy Cooper and the spending lobbies who support him, will produce a push by progressives to roll back tax cuts enacted by the Republican-led legislature.
NM’s economic resolution? End tax pyramiding » Albuquerque Journal
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