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Simplify Tax Season: A Glossary of Key Tax Terms
ARTICLE | November 26, 2024
Authored by Vasquez + Company
Tax season can feel overwhelming with its complex terminology and evolving laws. Our article, "Decoding Your Taxes: A Glossary of Tax Terms You May Need to Know," simplifies the process by defining some essential tax terms. Whether you're a business owner, seasoned taxpayer, or filing for the first time, understanding these key concepts can help you navigate federal taxes with confidence.
Key Points:
- Tax Jargon Simplified: From AGI to wash sales, familiarize yourself with common terms used in tax discussions.
- Important Updates: Learn about provisions set to expire in 2025 under the Tax Cuts and Jobs Act.
- Actionable Insights: Gain clarity on deductions, credits, and other strategies to optimize your tax planning.
For an in-depth understanding and professional guidance, read the full article here.
Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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Vasquez + Company LLP has over 50 years of experience in performing audit, tax, accounting, and consulting services for all types of nonprofit organizations, governmental entities, and private companies. We are the largest minority-controlled accounting firm in the United States and the only one to have global operations and certified as MBE with the Supplier Clearinghouse for the Utility Supplier Diversity Program of the California Public Utilities Commission.
For more information on how Vasquez can assist you, please email solutions@vasquezcpa.com or call +1.213.873.1700.
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