2021-06-27 18:24
Published on 27/06/2021
The crypto boom has caught several people off guard. Many who have invested in cryptocurrencies have seen their money get quadrupled, and many lament the missed op… Read More
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Mytaxfiler – Blog
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MyTaxFiler Blog posts includes articles on financial services pertaining to individuals and businesses like tax planning, tax returns filing.
2021-06-21 10:48
Published on 21/06/2021
The last couple of years have seen small businesses pacing up to rampant growth. Be it due to the power of social media or inherent improvement in the business env… Read More
2021-06-15 04:18
Published on 14/06/2021
Traditionally, people have strongly believed that age is just a number and have been pushing past the retirement age to continue earning till they physically and m… Read More
2021-06-06 16:15
Published 06/06/2021
Capital gains tax is levied on investments and real estate when the investor sells them after holding them for a year. Capital gains tax is charged on the profit made… Read More
2021-05-28 07:01
Published on 28/05/2021
Now that the May 17 deadline to file your taxes has passed, wondering what to do next? The good news is that there are no extra charges or penalties on filing your… Read More
2021-05-22 10:25
Published on 22/05/2021
One of the key goals while investing is to save enough capital for one’s retirement. That is the primary reason for putting money in a retirement account or… Read More
2021-05-14 11:34
The Internal Revenue Service extended the deadline to file income tax for individuals to May 17, 2021, on account of the coronavirus pandemic. Bear in mind that May 17 does not apply to… Read More
2021-05-08 18:59
Published on 08/05/2021
Tax season can be stressful as such. The miseries of the global pandemic have made the tax season even more harrowing. Not to mention the reforms in laws and finan… Read More
2021-05-03 16:45
Published on 03/05/2021
The last year has been particularly stressful. Americans have been pushed to the breaking point by the global spread of coronavirus. Families have had to struggle… Read More
2021-04-26 05:12
Published on 26/04/2021
Fulfilling short-term goals is one reason for slogging for hours and going after well-paying jobs. Another reason is to build a corpus that helps you retire early… Read More
2021-04-19 08:20
Published on 18/04/2021
The Covid-led pandemic shows no signs of abating yet and there are wave after wave of infection seen across the world. The IRS has been considerate of the difficu… Read More
2021-04-11 10:49
Published on 11/04/2021
The window for filing taxes has been extended to May 17 amid all the changes in the tax law due to the pandemic. The extension is a blessing, especially for people… Read More
2021-04-01 15:30
Published on 1/4/2021
The Internal Revenue Service has extended the tax filing deadline to May 17, effectively allowing another month for taxpayers to further lower their tax outgo by mak… Read More
2021-03-27 20:40
Published on 27/03/2021
Allotment of stock options by your company where you work under the Employee Stock Purchase Plan can be quite exciting. It comes with many perks, unfortunately, ta… Read More
2021-03-22 19:16
Published on 21/03/2021
Despite a delay of a fortnight, the tax season started with a shorter window for filing your taxes. And as challenging as this financial year has been, there have… Read More
2021-03-16 07:09
Published on 16/03/2021
The 2020 pandemic also saw millions of people open investing accounts. A lot of it can be attributed to cheap stock prices during the pandemic and the additional t… Read More
2021-03-08 16:29
Published on 08/03/2021
Americans have begun filing their 2020 income tax returns. After the pandemic, this is going to be a challenging tax season for most Americans. And the process of… Read More
2021-03-02 07:39
Published on 01/03/2021
The recent winter storms in Texas have led to the loss of property and have disrupted countless lives. While most citizens of Texas are busy rebuilding their lives… Read More
2021-02-22 16:58
Published on 22/02/2021
Since the outbreak of the coronavirus pandemic, most of the Government processes and applications have gone paperless requiring minimal to no face-to-face contact… Read More
2021-02-15 14:12
Published on 15/02/2021
The pandemic has not only crumbled the country’s healthcare system; it has also wreaked havoc on families. Sustaining a household and putting food on the tab… Read More
2021-02-08 18:50
Published on 08/02/2021
The CARES Act 2020 signed in March 2020 aided thousands of Americans who were struggling to put food on the table. The Act not only provided immediate benefit to A… Read More
2021-02-01 03:56
Published on 31/1/2021
T The tax season is approaching soon and the deadline to report your income tax is here. And this year you will have to fill out Form 1099 NEC to file your income t… Read More
2021-01-25 05:37
Published on 25/01/2021
The Paycheck Protection Program is a provision under the CARES Act that assists small businesses to help them keep afloat and during the pandemic. The clause was a… Read More
2021-01-17 22:46
Published on 18/01/2021
Reforms in the tax code were expected given the recent changes in the Tax Code and considering the latest stimulus payments. The Internal Revenue Service (IRS) has… Read More
2021-01-11 06:28
Published on 11/01/2021
While March 2020 brought the upsetting news of country-wide curbs and an economic slowdown due to the coronavirus pandemic, there was also a glimmer of hope. A co… Read More
2021-01-03 19:38
Published on 04/01/2021
We have officially entered 2021 and the much-dreaded 2020 is finally behind us. For a lot of people in the country, 2020 was the year of grief. People lost their l… Read More
2020-12-27 19:51
Published on 28/12/2020
The first round of stimulus payments came just around the onset of the coronavirus pandemic in the country. The package worth $2 trillion is aimed at alleviating t… Read More
2020-12-19 05:25
Published on 19/12/2020
The Paycheck Protection Program is a kind of loan that provides aid to small businesses and enterprises to help them stay afloat during the pandemic. The particula… Read More
2020-12-11 17:58
Published on 11/12/2020
When you file your 2020 Federal tax return, you have the choice of going for either standard deductions or opting for itemized deductions. And most taxpayers choos… Read More
2020-12-11 17:58
Published on 11/12/2020
When you file your 2020 Federal tax return, you have the choice of going for either standard deductions or opting for itemized deductions. And most taxpayers choos… Read More
2020-12-04 20:23
Published on 05/12/2020
The year is ending, and 2020 has been especially hard on taxpayers. Extra brunt has been faced by those laid off from their jobs and those working with massive pay… Read More
2020-11-27 13:42
Published on 27/11/2020
The deadline to file for a claim for a stimulus payment has now officially expired. But that’s for this year- you can still file a claim for your check- the… Read More
2020-11-22 21:48
Published on 23/11/2020
This year has been anything but easy for the average tax-paying citizen. Businesses have suffered, job losses have been rampant, and people have continued to work… Read More
2020-11-16 16:42
Published on 16/11/2020
The year 2020 has seen virtually everything- from our nation being in denial about the coronavirus crisis, millions of job losses, lakhs of people dying, and most… Read More
2020-11-06 15:35
Published on 06/11/2020
The erstwhile $11.58 million of the estate and gift tax exemption has been increased to $11.7 million per person. The Internal Revenue Service announced the new li… Read More
2020-10-30 16:32
Published on 30/10/2020
The Federal Government is entitled to many taxes, and understandably so; it is the Government’s primary source of income. A person has to pay multiple taxes… Read More
2020-10-26 13:42
Published on 26/10/2020
With the new Heroes Act being passed in the House, another $2.2 trillion have been injected into the system to help Americans bear the economic brunt of the corona… Read More
2020-10-23 15:39
Published on 23/10/2020
A Limited Liability Company (LLCs) is a form of business having combined characteristics of both a sole proprietorship and a corporation. It is a lawful entity th… Read More
2020-10-21 15:49
Published on 21/10/2020
If some decades ago, you had told your elders that businesses aren’t going to be risky in the future, they might have labelled you as a liar. But, now, almos… Read More
2020-10-19 13:09
Published on 19/10/2020
Understanding Form 3115
Form 3115 is an application for change in business accounting methods. This form can either change the entire accounting method of a bus… Read More
2020-10-16 10:28
Published on 16/10/2020
Apparel giant H&M recently announced that it will shut its 250 stores across the world. Zara has announced the closure of at least 1,200 stores globally… Read More
2020-10-14 13:29
Published on 14/10/2020
Tax audits have become the talk of the season with U.S President Trump’s tax returns being taken up for debate. The news is scary enough for the ordinary… Read More
2020-10-12 07:31
Published on 12/10/2020
The Coronavirus pandemic has pushed the global economy into a recession, forcing people to cut back on expenses as many people continue to lose their jobs. Keepi… Read More
2020-09-23 17:05
Published on 23/09/2020
A study has found out how much average taxes people pay even after their retirement. But before you panic, it is important to plan.
While it does sound… Read More
2020-09-17 15:41
Published on 17/09/2020
Did you receive any notice of non-payment from the IRS department despite having made the payment? It might come to you as a shock now, especially with the pandem… Read More
2020-09-15 16:59
Published on 15/09/2020
Most small businesses think that going for a whole life insurance option is a luxury. However, the benefits of whole life insurances can clearly make or break a… Read More
2020-09-09 12:55
Published on 09/09/2020
The global pandemic has upended everyone’s daily lives across the globe. No matter your occupation, the novel coronavirus, better known as COVID-19, has modi… Read More
2020-09-07 09:18
Published on 09/07/2020
The COVID-19 pandemic has toppled the world, and the immediate impact for the exchequers is that they’re staring at a massive shortfall in their revenue earn… Read More
2020-09-04 14:39
Published on 09/04/2020
The most recent pandemic has affected almost all the industries, and the financial markets were no different. The most recent COVID-19 market crash saw a lot of pe… Read More
2020-09-01 09:04
Published on 09/01/2020
Financing in its simplest form means lending money to the borrower for the specific use of funds, i.e. a loan. Premium financing is a type of loan extended to the… Read More
2020-08-31 10:38
Published on 08/31/2020
If there is one thing that is certain for people with good incomes is that they have to pay taxes on it. While it may pinch your pocket slightly, it is a part of l… Read More
2020-08-28 09:07
Let us understand the meaning of uncashed
tax check. Basically, whenever the taxpayer files the income tax return, she
has to mail the check for payment of outstanding taxes along with it. T… Read More
2020-08-28 08:18
The month of August brought in a wave of good news amidst the coronavirus gloom. Be it Kamala Harris’ nomination for the Vice Presidentship in the upcoming elections or be it the econo… Read More
2020-08-11 10:25
Published on 8/11/2020
A protection cover such as the one provided by life insurance is unmatched. While there are many insurance variants out there in the market, there is no other varia… Read More
2020-08-10 12:12
Published on: 8/10/2020
College costs are rising, and more and more parents are looking for creative ways to afford the kind of education they want their children to have. Even though a c… Read More
2020-07-30 15:45
Published on 7/30/30
We’ve reached the end of the 2019 tax cycle, and we are sure most of you must have filed your tax returns by now. We understand how big a relief it is to comple… Read More
2020-07-29 08:43
Published on 7/29/2020
The tax debate has been going on for decades. Federal taxes especially have been lower for the past few years. The exemptions on the estate and gift taxes have exte… Read More
2020-07-20 09:56
Published on 7/20/2020
A business is not only mathematics related to profit and loss. There is so much more to running a business than maintaining numbers. Building prominence and reputat… Read More
2020-07-15 08:25
Published on 7/15/2020
The importance of having life insurance has grown over the past few months. The demand for life insurance among individuals has gone up. Additionally, companies hav… Read More
2020-07-13 15:38
Published on 7/13/2020
July 15 is notoriously vital for all taxpayers as the last date to file the taxes for the year 2019-20 without any penalty being levied.
Tax Day is equally essen… Read More
2020-07-10 15:14
Published on 7/10/2020
July 15 is also known as the dreaded ‘Tax Day’ to most citizens.
Tax Day is knocking our doors with less than a week to go. The original Tax Day was… Read More
2020-07-06 06:31
Published on 7/6/2020
A good chunk of an average American’s income goes towards their retirement fund. It not only guarantees a regular flow of income even after retirement, but you… Read More
2020-06-29 14:30
Published on 6/29/2020
With less than three weeks for the Tax Day, all American residents, expats, and those living in different corners of the world have buckled up. The Internal Revenue… Read More
2020-06-22 15:00
Published on 06/22/2020
U.S President Donald Trump announced the deferral of the deadline for filing tax returns. As a more significant part of the package to endure the economic blow to… Read More
2020-06-19 14:05
Published on 6/19/2020
The Paycheck Protection Program (PPP) has provided over $510 billion for small businesses around the country. But did you know that the PPP is set to expire on June… Read More
2020-06-18 14:02
Published on 6/18/2020
The coronavirus pandemic caught everyone off guard. We had a Government who initially failed to acknowledge the spread of the deadly virus in the country. By the ti… Read More
2020-06-16 10:22
Published on July 16, 2020
With a few days into a global pandemic, many people in the country started reporting job losses, financial losses amidst other crises. There also was speculatio… Read More
2020-06-12 08:55
The U.S. Federal Government ushered in the CARES Act in early March this year to combat the economic blow caused by the global shutdown due to the coronavirus pandemic. An economical package… Read More
2020-06-08 09:14
In mid-March, the U.S. Federal Government introduced the CARES Act. The Act encompasses an economic package to help the country tide over the severe financial ramifications caused by the cor… Read More
2020-06-05 14:28
The Paycheck Protection Program (PPP) Flexibility Act, 2020, was passed by the House of Representatives on May 28, 2020. Today, the Senate passed the bill under the CARES Act (The Coronaviru… Read More
2020-06-03 09:23
In a one-of-its-kind announcement, the IRS recently took a landmark decision allowing taxpayers to file their amended returns electronically. Yes, you heard it right! You can now fill out th… Read More
2020-05-27 11:44
The nationwide lockdown has disturbed the U.S. economy significantly. More than 30 million Americans have filed for unemployment, and more are to follow. Discerning the financial impact of t… Read More
2020-05-26 12:38
The Treasury Department and the Internal Revenue Services recently released the updated state-by-state figures of the Economic Impact Payments made in the opening weeks of the program. … Read More
2020-05-26 12:37
Net Operating Loss (NOL) provision has long been a massive support for businesses incurring an overall net loss in a tax year. The tax code helped such businesses by allowing them quick cash… Read More
2020-05-19 06:44
The Internal Revenue Service and the Treasury have recently announced successfully delivering 130 million Economic Impact Payments and more on their way.
We are sure there must be s… Read More
2020-05-14 09:25
The Paycheck Protection program has been a significant relief for small businesses to fight the COVID-19 pandemic. But apart from the PPP, there is another relief program that can help strug… Read More
2020-05-08 14:01
We are sure amid the pandemic, you might have missed hearing about the newly redesigned W-4 Form released by the IRS. W2 Forms are used to adjust income tax withholdings, and the newly annou… Read More
2020-05-06 06:45
COVID-19 has changed our lives drastically. Who would have thought to pass almost half an academic year taking virtual classes, right?
What does this sudden outbreak mean to the col… Read More
2020-04-27 13:21
The Internal Revenue Service with the Treasury Department released state-by-state figures for Economic Impact Payments. Approximately 88 million individuals received payments worth nearly $1… Read More
2020-04-24 14:09
There are a couple of rumors revolving around stimulus checks, which can lead to scamsters making use of this condition to dupe you. Let us break the myths so that you can be smart and have… Read More
2020-04-23 12:36
The talks on stimulus checks have been touching the skies since the announcement of the CARES Act. We understand that most of you must be eagerly waiting to receive your checks and thinking… Read More
2020-04-20 10:48
Here’s how the survey insights of over 16,000 business owners across the US can be concluded.
Where are the CARES funds?
The US government stopped drawing applications… Read More
2020-04-16 10:26
We could not be more excited to share this excellent piece of an update, as Mark Cuban Duncan and Rita MacDonald-Korth recently featured the COVID Loan Tracker.
They are a group of small… Read More
2020-04-16 08:53
What if we told you that you could be among those lucky few who are going to receive a $600 extra check-in on their unemployment benefits? Yes, you heard it right! The states are all set to… Read More
2020-04-14 12:12
We bear good news for those who don’t usually file their federal income tax returns. If you have been waiting for your stimulus check, then you are in for relief as the IRS has newly r… Read More
2020-04-13 13:06
Who is eligible for the Economic Impact Payment?
American citizens or resident aliens who,
Have a valid Social Security Number.Couldn’t be classified as a dependent of another ta… Read More
2020-04-13 10:06
The Coronavirus Aid, Relief, and Economic Security Act made three crucial changes to the traditional belief of unemployment compensation for the self-employed impacted by COVID-19:
It ext… Read More
2020-04-10 14:15
As we all are well aware, the tax deadline is pushed to July 15, 2020. One’s conventional wisdom drives them to file their taxes as early as possible when expecting a tax refund, but o… Read More
2020-04-09 11:56
The COVID-19 pandemic has brought economic distress all over the globe. From Fortune 500 to small businesses, to the government – all are hit. These are testing times, but the number o… Read More
2020-04-07 08:52
The CARES Act, which was released amidst the COVID-19 shut-down, offers a $2 trillion relief package to help recover the economy and get it back on its track. The main feature of the CARES A… Read More
2020-04-06 12:37
If you are a small business owner, then it’s time to draw a sigh of relief because, despite the national emergency due to the COVID-19 pandemic, there’s help to keep your busines… Read More
2020-04-03 13:52
Scamsters are on the lookout of leveraging the unrest caused because of COVID-19 to fraud you of your tax payments and refunds. History has time and again witnessed criminals seizing the opp… Read More
2020-03-31 12:53
Booming the headlines for the past few days, every American by now if aware of the federal government’s $2 trillion economic rescue package. The bill includes financial aid for individ… Read More
2020-03-31 12:47
Lawmakers are consistently making amends to make things easier for Americans struggling with the fallout from the pandemic to draw on trillions of dollars in their 401(k)s and other retireme… Read More
2020-03-30 14:45
What is Paycheck Protection Program (PPP)?
Under the Senate bill, the federal government will be allocating $349 billion to the Small Business Administration to guarantee loans to small b… Read More
2020-03-30 14:41
Refrain yourself from sharing your PayPal credentials, Social Security number, bank account details, and similar information, if someone claims such information is crucial to sign you… Read More
2020-03-27 13:23
The Stimulus Bill 2020 Coronavirus help payments will be shared with all taxpayers based on their 2018 or 2019 income, including L visa works, H1B. Public charge rules are most likely to be… Read More
2020-03-26 09:49
On Wednesday, Trump administration officials with the top Democrats agreed on a $2 trillion rescue package to come grips with the COVID-19 pandemic, establishing this as the most extensive e… Read More
2020-03-25 16:49
The US Government & private sectors aid to overcome the pandemic situation.
Laid off or unemployed –
Unemployment benefits can be claimed from your respective resid… Read More
2020-03-25 16:45
On Friday, March 20th, Treasury Secretary Steven Mnuchin tweeted, “At @realDonaldTrump’s direction, we are moving Tax Day from April 15th to July 15th. All taxpayers and business… Read More
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