First, many NRIs do taxes on their own using tools available like Turbo Tax for filing tax. If the income is straightforward like W2, easy-to-use tools like Turbo Tax can help file the taxes. If you have a home mortgage, capital gains, business, special needs, other 1099 income, etc., then, we recommend hiring a professional […]
2020 Tax Brackets
The IRS used to use the Consumer Price Index (CPI) to calculate the past year’s inflation. However, with the Tax Cuts and Jobs Act of 2017, the IRS will now use the Chained Consumer Price Index (C-CPI) to adjust income thresholds, deduction amounts, and credit values accordingly. 2020 Federal Income Tax Brackets and Rates In 2020, […]