A tax credit reduces the amount a person owes in income taxes dollar-for-dollar. Some tax credits are even refundable, meaning if a person's tax bill is less than the amount of a refundable credit, they can get the difference back in their refund. The One, Big,...
Clergy face some of the most complex tax situations of any profession. Dual tax status, housing allowances, self‑employment rules, parsonage issues, and ministry‑related reimbursements all require specialized knowledge—knowledge that many general tax preparers simply...
One of the most common questions employees ask when reviewing their pay stub is: “Why isn’t any federal income tax being withheld from my paycheck?” While it can feel alarming, there are several legitimate reasons this can happen. Understanding the “why” can help...