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In other words, if your tax bill is $1,000 but you earn $2,000 in refundable tax credits, you’re entitled to a refund of $400 — 40% of the $1,000 that exceeds your tax liability.
Small businesses, independent contractors and gig workers who want to avoid reporting income paid through P2P apps like Venmo and PayPal might have found a loophole -- and it could be costing the...
Use these legal tax deductions to save a bundle come tax time.
As part of the Tax Cuts and Jobs Act of 2017, small businesses, including self-employed individuals, were allowed to write off 20% of their incomes. While this provision is currently slated to ...
Diane Kennedy (born 1956) is an American CPA, speaker, and financial writer.She is the author of The Wall Street Journal and Business Week bestsellers, Loopholes of the Rich and Real Estate Loopholes as well as The Insider's Guide to Real Estate Investing Loopholes, Tax Loopholes for eBay Sellers, and Smart Business Stupid Business.
Be Aware: 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth Trending Now: Suze Orman's Secret to a Wealthy Retirement--Have You Made This Money Move? Start With Home Office Deductions