How do I Claim My Missing STIMULUS MONEY?
IF YOU ARE READING THIS AND WORRYING ABOUT YOUR STIMULUS MONEY, CALL US…It’s just that Simple.
CALL MOONTREE TAX SERVICE TODAY!!!!!—(408)-475-2306
2020 Tax File Guides
All the posts in this category are for Tax Year 2020 help and guidance.
Should I Get An Accountant?
What are the reasons why people go to accountants?
CAN I CLAIM REFUNDABLE AOTC AS A STUDENT?
CAN I CLAIM REFUNDABLE AOTC AS A STUDENT? We get this question a lot! A student who goes to college can claim the refundable part of the AOTC but only if they have earned income that is more than half of their support. What does this mean? LETS use an example: Mike is 19 years …
HOW DO I GET AMERICAN OPPORTUNITY TAX CREDIT?
The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student. If the credit brings the amount of tax you owe to zero, you can have 40 percent …
I need a Tax Expert!!!
I need a Tax Expert!
Tax Service in San Jose
Moontree Tax Service can prepare taxes for individuals and businesses. We can file files virtually or if you are located in the San Francisco Bay Area, you can come to our office. We are located in San Jose Why do people even need Accountants or Tax Professionals? Yes, business owners could file their own taxes …
Businesses have Feb. 1 deadline to provide Forms 1099-MISC and 1099-NEC to recipients
CONTACT MOONTREE TAX SERVICE TO FILE 1099-MISC and THE NEW 1099-NEC FORMS WASHINGTON — The Internal Revenue Service today reminded businesses and other payors that the revised Form 1099-MISC, Miscellaneous Income PDF, and the new Form 1099-NEC, Nonemployee Compensation PDF, must be furnished to most recipients by February 1, 2021. Redesigned Form 1099-MISC The IRS revised Form 1099-MISC for …
Businesses have Feb. 1 deadline to provide Forms 1099-MISC and 1099-NEC to recipients Read More »
IRS begin accepting tax
Contact Moontree Tax Service to file your taxes! Call us or Fill out a contact form: here—- Contact Form IR-2021-16, January 15, 2021 WASHINGTON ― The Internal Revenue Service announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. …
Itemized Deductions Limits 2020
ITEMIZED DEDUCTIONS Medical and Dental Expenses (AGI Threshold) 7.50% State and Local Taxes (Limit) Married Filing Jointly, Single, and Head of Household $10,000 Married Filing Separately $5,000 Casualty and Theft Losses Federal Disaster Losses Allowed Other Losses Not Allowed Misc. Itemized Deductions Not Subject to 2% of AGI Limit Allowed Subject …
Standard Deduction For Tax Year 2020
2020 is already coming to an end and it will be time to file income taxes beginning in January 2021. Here are the Standard deductions for the 1040 tax returns. Married Filing Jointly and Surviving Spouse $24,800 Head of Household $18,650 Single $12,400 Married Filing Separately $12,400 Dependent Standard Deduction (Min.) $1,100 Additional Amount for …
