Five Rules for Turning Your Vacation – Even a Luxurious One – into Tax-Deductible Business Travel
When you convert your vacation into a business trip, your transportation expenses suddenly become deductible. And when you travel for business, you deduct the expenses. Think of the tax deduction as a travel discount. The size of the discount depends on your tax bracket. That could easily amount to savings of 30, 40, 50, or […]
The 5 IRS Fiascos You Won’t Believe
Navigating tax codes can be a harrowing task, and even the IRS, the very entity that enforces tax laws in the United States, isn’t immune to making mistakes. Over the years, there have been some glaring missteps by the IRS that have left taxpayers scratching their heads. From computational errors to operational blunders, these incidents […]
How to Fill Out Arizona Withholding Form A-4 + FAQs
The Arizona Department of Revenue revised Form A-4 for 2023 to account for the new flat state income tax of 2.5%. Previous versions of the form are not valid for withholding calculations as of January 1, 2023. There is no penalty for employees who did not update the form, however you should give your employer […]
How to Fill Out W-4 in 2023: Married and Both Work + FAQs
To fill out a W-4 when married filing jointly and both spouses work, both spouses fill out Form W-4, both spouses check box 2(c) in Step 2, one spouse with the highest income claims any dependents in Step 3, and each spouse fills out Step 4 based on personal income. Once complete, each spouse submits […]
How to Properly Claim Dependents on a W-4 Form in 2023 + FAQs
Claiming dependents when filling out the IRS Form W-4 has a significant impact on your end-of-year tax liability and take-home pay. The more dependents you claim, the less income your employer withholds for taxes, leaving you with more money in your pocket. Unfortunately, simply counting your family members is not the correct way to claim […]
How to Fill Out Virginia Withholding Form VA-4 + FAQs
In Virginia, the Withholding Form VA-4 is crucial in determining how much state income tax will be withheld from your earnings. Knowing how to complete Form VA-4 accurately lets your employer withhold the right amount of money for income taxes, allowing you to manage your finances better, avoid penalties, and optimize your paycheck. What is […]
How to Fill Out New Jersey Withholding Form NJ-W4 in 2023 + FAQs
If you live or work in New Jersey, you may be familiar with the state-issued income tax withholding form NJ-W4. It enables your employer to calculate the amount of money to withhold from your pay for state income taxes. Knowing how to complete Form NJ-W4 accurately ensures your employer withholds the correct amount for your […]
Working “Under the Table” Consequences + FAQs
There are several names for “working under the table”: working off the books, unreported income, the informal sector, and the more pernicious name that implies illicit activity, “the underground economy”, among others. There could be several reasons why someone would take an under the table job, as commonly seen in construction, domestic work, and food […]
How to Fill Out Michigan Withholding Form MI-W4 in 2023 + FAQs
Form MI-W4 is a state employee withholding form. Accurately filling out Form MI-W4 allows your employer to withhold the correct amount for state income taxes from your wages. While most people only need to fill out an MI-W4 once after starting new employment, changes in your life circumstances may require you to fill out a […]
How to Fill Out North Carolina Withholding Form NC-4 in 2023 + FAQs
If you’re a resident of North Carolina or employed by a company operating in the state, it’s important to complete Form NC-4 accurately. This ensures your employer can calculate the appropriate state income tax withholdings on your behalf. Follow these guidelines for completing North Carolina’s Form NC-4 to ensure accurate withholding for your state income […]
