Noman Fayyaz
Business Tax Provisions: 2020 Info
Standard Mileage Rates The standard mileage rate in 2020 is 57.5 cents per business mile driven. Health Care Tax Credit for Small...
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Noman Fayyaz
Oct 28, 20211 min read
Individuals - Education Expense
Coverdell Education Savings Account You can contribute up to $2,000 a year to Coverdell savings accounts in 2020. These accounts can be...
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Noman Fayyaz
Oct 28, 20212 min read
Individuals - Tax Credits 2020
Adoption Credit In 2020 a nonrefundable (i.e., only those with tax liability will benefit) credit of up to $14,300 is available for...
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Noman Fayyaz
Oct 28, 20212 min read
Individual Taxpayers: 2020 Key Info.
Personal Exemptions Personal exemptions are eliminated for tax years 2018 through 2025. Standard Deductions The standard deduction for...
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Noman Fayyaz
Oct 28, 20211 min read
Working Grandparents May Be Eligible for Earned Income Tax Credit (EITC)
The Internal Revenue Service wants working grandparents raising grandchildren to be aware of the Earned Income Tax Credit (EITC) and...
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