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Navigating the 2023 Small Business Health Care Tax Credit: A …

WEBIntroduction: Small businesses are the backbone of our economy, and providing healthcare benefits to employees is a significant step towards employee well-being and retention. The Small Business Health Care Tax Credit can be a game …

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Embracing the 2023 QSEHRA: A Guide for Employers

WEBIntroduction The Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is a tax-advantaged benefit that small employers can offer to their employees for healthcare expenses. As we step into 2023, understanding the benefits, …

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The 2023 Self-Employed Health Insurance Deduction: A Simple …

WEBIntroduction Health insurance is a significant expense for many, but if you're self-employed, there's a silver lining: the Self-Employed Health Insurance Deduction. This tax benefit can help offset the cost of your premiums. In this article, we'll explore the …

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The 2023 Premium Tax Credit: A Simplified Guide

WEBIntroduction The Premium Tax Credit is a financial relief program designed to make health insurance more affordable. As we step into 2023, it's crucial to understand how this credit works, who is eligible, and how to claim it. Eligibility Criteria Income Level …

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The Ultimate Tax Planning Guide for the Self-Employed

WEBBusiness Insurance. The premiums you pay for business insurance are one of the tax deductions you can claim to protect your business. There are several types of insurance, including fire insurance, credit insurance, car insurance, worker's …

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Our Services — Mission Tax & Financial Services

WEBThe filing of various tax forms is an essential part of managing financial obligations. Among these forms are the W2, 1099, 2290, franchise tax report, and sales tax.

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Navigating 2023 Retirement Distribution Exceptions

WEBUnderstanding the exceptions to early withdrawal penalties from retirement accounts can save taxpayers significant amounts in taxes and penalties. The rules differ between 401(k) plans and Individual Retirement Accounts (IRAs), with some exceptions …

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Articles — Mission Tax & Financial Services

WEBNavigating the 2023 Small Business Health Care Tax Credit: A Guide to Savings and Compliance

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The 2023 Foreign Tax Credit: A Simple Guide

WEBIntroduction If you're a U.S. citizen or resident alien who has paid taxes to a foreign government, you may be eligible for the Foreign Tax Credit. This credit can help you avoid double taxation and reduce your U.S. tax liability. In this article, we'll break down …

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Navigating Retirement Distribution Exceptions: A Comprehensive …

WEBIntroduction Understanding the exceptions to early retirement distribution penalties is crucial for anyone looking to access their retirement funds without incurring additional costs. This guide will explore the various exceptions across different …

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Unlocking Savings: A Comprehensive Guide to the 2023 …

WEBIntroduction: Gasoline plays a vital role in powering various industries and activities, and if you're eligible, the Nontaxable Use of Gasoline Credit can help your business save on fuel expenses in 2023. In this article, we'll explore the requirements, …

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Did You Sell Your Primary Residence Home or Are You Thinking …

WEBThis year has been a good opportunity to sell your home at a peak price. If you were one who took advantage of these prices, wait to hear more good news: when you sell your main home, you may qualify to exclude up to $250,000 of that gain from your …

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The 2023 Home Office Deduction: A Simple Guide on Eligibility …

WEBIntroduction Working from home has its perks, and one of them is the potential for a tax deduction. The Home Office Deduction is designed to help self-employed individuals and certain employees offset the costs of maintaining a home office. In this …

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Navigating the 2023 Commercial Electric Vehicle Tax Credit

WEBBusinesses and tax-exempt organizations that buy a qualified commercial clean vehicle may qualify for a clean vehicle tax credit of up to $40,000 under Internal Revenue Code (IRC) 45W. The credit equals the lesser of: 15% of your basis in the …

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