What Is Federal Tax? Understanding Its Components and Impact

Latest Facts and News The IRS has announced tax inflation adjustments for the 2024 tax year Standard deduction for married couples filing jointly rises to $29,200 for 2024 New tax brackets and rates have been set for 2024, affecting taxpayers across income levels The IRS collected over $4.9 trillion in gross taxes in fiscal year […]

Comprehensive Guide: How Does Sales Tax Work?

Latest Facts and News Missouri has scheduled its “Show Me Green” sales tax holiday from April 19 to April 25, 2025, to promote the purchase of energy-efficient appliances. Texas also plans multiple tax holidays yearly, focusing on emergency preparedness and eco-friendly products. Virginia’s Proposed Sales Tax for School Funding: For the fourth consecutive year, Virginia’s […]

Author

Joe Hopkins (CPA, MBA & Former CFO)

Joe has 30+ years as a Certified Public Accountant licensed in the State of Texas and solving IRS problems. Current member with the American Institute of Certified Public Accountants (AICPA), Texas Society of CPA’s (TSCPA), National Society of Accountants (NSA), Bachelor’s degree in accounting (BBA), Master’s degree in Business Administration (MBA) at Texas A&M Corpus Christi. Experience in a variety of industries as Controller, CFO and tax resolution issues for both business and personal tax cases.