Obtaining head of household status can be a boon for divorced parents who meet the criteria for it. Among the benefits is a standard deduction of $18,000 as opposed to $12,200 for those who file single. Furthermore, individuals who have the head of household status...
Month: November 2018
IRS announces new tax rules for 2019
Taxpayers throughout Georgia and the rest of the country now know what the tax brackets will be for the 2019 tax year. Individuals who make up to $9,700 will be in the 10 percent tax bracket, which is the lowest of the seven income tax tiers. Individuals who have a...
Important aspects of Currently Not Collectible status
As tax season approaches, some people may already feel the stress of figuring out how they will pay their taxes. In some instances, there are a few available solutions. Applying for Currently Not Collectible status may be an option in some cases. Before making the...
Why hairstylists should report their tips
People engaged in freelance, creative or self-directed businesses in Georgia often have to pay special attention to their taxes. These cautions can also apply to tipped workers of various kinds. While restaurant workers may often receive tax documents that reflect...
Retirement contribution limits to increase
In 2019, individuals saving for retirement in Georgia and throughout the country will be able to contribute more to their accounts. The IRS announced that the maximum annual contribution to an IRA will increase to $6,000 from $5,500. Those who have a 401k or similar...
Election workers must generally pay income taxes
Georgia residents who perform services for the government during an election must pay taxes on the income they earned. However, this income will not be subject to income tax withholding unless a worker specifically asks for that to occur. This is done by submitting a...