Top 10 Highest Tax Burden States in 2023 | Comprehensive Tax Guide
Updated for Tax Year 2023 • October 5, 2024 Where you live in the United States can significantly impact how much money you have to pay in taxes. In this comprehensive guide, we will explore the highest income tax states in 2023, understand the overall tax burden, and provide insights into how state taxes can…
IRS Audit Support: What It Is and Why You Need It
Worried about an IRS audit? XOA TAX provides comprehensive audit support, guiding you through the process with expert tax professionals and a proven track record of success.
Energy Tax Credits: How Going Green Could Help You in 2024
Thinking about switching to renewable energy? Energy tax credits can significantly help you go green by reducing the costs of federal renewable energy and residential energy efficiency upgrades. The Energy Efficient Home Improvement Credit and the Residential Clean Energy Credit have been extended to 2034 and expanded to cover more people starting in 2023. Key…
How the U.S. Tax System Works
Understand tax basics to navigate the system effectively and potentially save money.
What Is Disability Tax Credit? Who Qualifies For It?
The U.S. tax code offers various credits and deductions to help individuals reduce their tax liability. One such credit, officially known as the Disability Tax Credit (DTC), can significantly benefit eligible taxpayers. This comprehensive guide explores who qualifies for this credit, the criteria they must meet, and how to calculate and claim it. Key Takeaways […]
Facing the Music (and the IRS): A Friendly Guide to Filing Back Taxes (Even Without All Your Records)
Let’s be honest, nobody loves dealing with taxes. But sometimes life throws you a curveball, and those tax returns just don’t happen. Maybe you misplaced some forms, had a particularly hectic year, or just plain procrastinated (hey, it happens to the best of us!). Whatever the reason, if you’re staring down a pile of unfiled […]
Additional Medicare Tax 2024: What You Need to Know
As an employer, juggling multiple responsibilities is a daily reality. From managing your team to ensuring smooth business operations, your to-do list can seem never-ending. And amidst all this, staying on top of your tax obligations can feel like a daunting task. One such obligation that often causes confusion is the Additional Medicare Tax. But […]
Reclaim Your Unpaid Taxes: A Guide to Form 8919 for Misclassified Workers
Being your own boss as an independent contractor offers freedom and flexibility. But what happens when your employer incorrectly classifies you? This misclassification can lead to significant tax issues, especially concerning unpaid Social Security and Medicare taxes. Don’t worry, though! XOA TAX is here to help you understand your rights and how to rectify this […]
Before Filing Form 3800: What Form Should You File First?
At XOA TAX, we’re passionate about helping businesses navigate the complexities of tax season. One common question we encounter revolves around Form 3800 – the General Business Credit. While it offers valuable opportunities to reduce tax liability, it often raises questions like: “What needs to be done *before* even considering Form 3800?” The key lies […]
Maximize Your Refund with the EITC: A Guide to Schedule EIC
Tax season can be stressful, but it doesn’t have to be. At XOA TAX, we believe in empowering you with the knowledge to navigate the complexities of the tax code and claim every credit you deserve. One such credit that can significantly impact your tax return is the Earned Income Tax Credit (EITC). This comprehensive […]
