If you previously took advantage of qualifying transformation and parking fringe benefits, you can use a bit more for 2022
The government has chosen to extend the upcoming tax deadline from April 15 to July 15. If you heard about that move, it sounds like a much-needed break during this coronavirus mayhem. But what exactly does this extension mean for taxpayers, and who does it benefit most?
This falls under the Lifetime Learning Credit and it covers up to 20 percent of your expenses on up to $10,000 for a maximum credit of $2,000 on further education. So if you took a class this year to boost your job skills, don’t forget to write off your class fees.
(Wall Street Journal) — Not since the Great Depression has Congress had so much tax work to do in so little time. From the income tax to the estate tax, from the alternative minimum tax to levies on capital gains and dividends—plus much more—nearly every area of individual taxes is in limbo. Come January, for […]