A seasonal job could last anywhere from three to eight months, depending on the company, the position, and how long a “season” lasts.
As an economic incentive for individuals to save and invest, gains from the sale of capital assets held for at least one year may be taxed at rates lower than ordinary income tax rates.
Business travel entails a variety of expenses. In addition to the costs of getting to your work-related destination, other costs may include hotel, rental car, and meals and incidentals.
Alimony or separation payments paid to a spouse or former spouse under a divorce or separation agreement, such as a divorce decree, a separate maintenance decree, or a written separation agreement, may be alimony for federal tax purposes.
The ability to deduct state and local taxes (SALT) has historically been a valuable tax break for taxpayers who itemize deductions on their federal income tax returns. With the introduction of the Tax Cuts and Jobs Act (TCJA) in 2017, the SALT deduction was limited for tax years 2018 through 2025.