February 2024 - Abacus Trucking

How do I know which filing status to select?

By Abacus CPAs|2024-02-02T16:07:29-06:00February 2nd, 2024|Categories: Transportation|Tags: Ask Abe, Better Guidance|

Hey Abe! I'm getting ready for this upcoming tax season. How do I know which filing status to select? Great question! I’m glad you’re starting to prepare for tax season now. To determine your filing status, consider your marital status and living arrangements at the end of the tax year. Here’s a quick guide: Single Unmarried, [...]

Claiming Dependents on Your Tax Return

By Abacus CPAs|2024-02-02T15:31:10-06:00February 2nd, 2024|Categories: Transportation|

While every American who earns an income has to pay taxes, many taxpayers can reduce how much tax they owe by claiming deductions and credits. Claiming dependent can be a great way to lower your tax burden if you have provided more than half of the person’s financial support for the tax year. However, it is [...]