At Abacus!, we believe better guidance leads to smarter decisions. That starts with understanding the terms that show up on your tax return. Here’s a quick guide to some of the most common ones and how they impact what you owe or what you get back. Tax Credit A tax credit directly lowers the amount of [...]
The documents you need to file your tax return depends on your situation and is different for everyone. Some individuals receive a W-2 from their employer, whereas others own a business and the documentation required can be more complicated. Consider what, if any, changes happened during the year. Did you get a new job? Did you [...]
You know when you go on vacation or are over the road for extended periods, and you come home, and the mailbox is SO full you can barely open it? Well, with the global pandemic going on with COVID -19, the IRS has tons of mail. No, they weren’t on vacation, but due to the pandemic, [...]
