How Do Taxes Affect the Economy? Long-Term vs. Short-Term

How Do Taxes Affect the Economy? Long-Term vs. Short-Term

Do you know how taxes affect the economy? The way taxes affect the economy is fairly complicated, so there’s actually no simple explanation for how these two complex systems intertwine. However, most economic experts agree that large changes to the tax code can change...
Tax Deduction vs. Tax Credit: What’s the Difference?

Tax Deduction vs. Tax Credit: What’s the Difference?

We’ve all heard of tax credits and tax deductions. And we know that tax credits and tax deductions are good things that can save you money come tax time. But have you ever wondered how they work? And if there’s a difference between them? In this post, we’ll take a...
IRS Gives Passes to Underpayment of Federal Taxes

IRS Gives Passes to Underpayment of Federal Taxes

Every year, those who underpay their estimated tax are subject to penalty fees from the IRS. But this year, the number of Americans who underpaid may have dramatically increased, due to the Tax Cuts and Jobs Act and how that has affected withholding figures. Luckily...
Tax Tips for Side Jobs

Tax Tips for Side Jobs

In 2019’s gig economy, lots of Americans have side hustles. But do you know how to handle your side job income when you file your taxes? Our experts here at Tax Defense Partners give you our top 3 tax tips for side jobs to help you understand how your second job...