Tax Breaks for Families with Children
Tax Breaks for Families with Children If you have children, one or more of these tax credits and deductions could help your family reduce the amount of tax owed. Let’s…
Renting Out a Second Home
Renting Out a Second Home In general, income from rental of a vacation home for 15 days or longer must be reported on your tax return on Schedule E, Supplemental Income…
Unemployment Fraud Continues to Thrive
Unemployment Fraud Continues to Thrive Unemployment fraud has been running rampant since the beginning of the COVID-19 pandemic and the number of fraudulent claims continues to grow at an alarming…
3 Wessel & Company Shareholders Among PA Business Central’s Top 100 People
3 Wessel & Company Shareholders Among PA Business Central’s Top 100 People Wessel & Company shareholders Patti Hudson and Tom Seitz, as well as President & CEO Joel Valentine have…
Who Qualifies for the Earned Income Credit
Who Qualifies for the Earned Income Credit The earned income tax credit can give qualifying workers with low-to-moderate income a substantial financial boost. The credit not only reduces the amount…
Relief for Taxpayers Struggling With Tax Debts
Relief for Taxpayers Struggling With Tax Debts While there have always been payment options available from the IRS to help taxpayers struggling to pay tax debts, the new IRS Taxpayer…
FBI Sees Rise in Fraud Schemes Related to the Coronavirus (COVID-19) Pandemic
FBI Sees Rise in Fraud Schemes Related to the Coronavirus (COVID-19) Pandemic Scammers are leveraging the COVID-19 pandemic to steal your money, your personal information, or both. Don’t let them.…
Taxable vs. Nontaxable Income
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable…
What’s New for 2020 Tax Returns
What’s New for 2020 Tax Returns As always, taxpayers should be aware of several key items involving credits, deductions, and refunds when filing their tax returns. Let’s take a look:…