Resources - 123 Income Tax Inc.

Did You Sell Stocks, Real Estate, or Investments? Here’s What You Need to Know for Tax Season

If you sold stocks, real estate, or other investments this year, it’s important to understand how these transactions affect your...

Should I Do My Taxes if I Plan on Buying a Home?

If you’re planning to buy a home in the near future, one of the most important steps to take before...

Why Accuracy Matters When Filing Your Taxes

Accuracy is one of the most important aspects of filing your taxes. Even small mistakes can lead to delays, reduced...

2024 Buisness Income tax

Here is a question we get a lot: what if I got business government grant? Yes, it is considered a taxable...

How will the expanded child tax credit affect me?

For 2024, the total credit for eligible families rose to as much as $3,600 for each child under 6 and...

Did You Receive Payments Through Venmo, PayPal, Cash App, or Online Marketplaces? Here’s What You Need to Know

If you received payments through apps like Venmo, PayPal, Cash App, or online marketplaces this year, it’s important to understand...

The Importance of Filing Your Taxes: Why It Matters

The Importance of Filing Your Taxes: Why It Matters Taxes might not be the most exciting topic, but they are...

How to Check Your Withholding

Withholding is the amount of income tax your employer pays on your behalf from your paycheck. The changes to the...

How Professional Tax Services Help You Maximize Your Refund and Minimize Stress

When tax season arrives, many people focus on one main goal—getting the biggest refund possible. While it may seem simple...

Common Tax Filing Mistakes and How Professional Tax Services Help You Avoid Them

Filing your taxes may seem straightforward, but even small mistakes can lead to delays, penalties, or missed opportunities for savings....

Why the IRS Is Moving Away from Paper Checks

For decades, receiving a tax refund by mail in the form of a paper check was the norm. Many taxpayers...

What to Do If You’re Behind on Your Tax Payments

Falling behind on your taxes can feel overwhelming, but ignoring the problem will only make it worse. The good news?...

Why Professional Tax Services Matter More Than Ever in 2026

Looking for reliable tax services? Learn why professional tax preparation helps you stay compliant, maximize deductions, and avoid costly mistakes....

Your Crypto and Invesment Is Taxable in 2024

If you invested in crypto last year, you may be in for a rude awakening this tax season. Yes, your...

Did You Contribute to a 401(k), IRA, or Retirement Plan? Here’s What You Need to Know for Tax Season

If you contributed to a 401(k), IRA, or another retirement plan this year, it can have a meaningful impact on...

Should You File Taxes at 18? Here’s What You Need to Know

Turning 18 comes with new responsibilities—voting, managing your finances, and yes, potentially filing taxes. If you're wondering whether you need...

How Many Kids Can You Write Off on Your Taxes? A Guide for Parents

As a parent, tax season comes with some financial benefits, one of the most important being the ability to claim...

Major Tax Changes for 2024

Tax Brackets Increase for All Filing Statuses Your federal taxes are calculated based on the tax brackets for your filing...

Did You Earn Tip Income That May Now Qualify for Tax Benefits? Here’s What You Need to Know

If you earned tip income this year, you may be wondering how it affects your taxes and whether you qualify...

When Are Taxes Due in 2024?

Tax Day is typically April 15 each year unless the day falls on a holiday or weekend. The pandemic in...