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California Middle Class Tax Refund (MCTR) Payments: What You Need to Know

California Middle Class Tax Refund - Rush Tax Resolution

The California Middle Class Tax Refund is a tax refund issued by the California Franchise Tax Board for taxpayers who sent in a 2020 tax return to provide financial relief during unprecedented inflation. An estimated 32 million Californian taxpayers have already benefited from the MCTR. Here’s what our team at Rush Tax Resolution recommends you …

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Exploring Above the Line Deductions

Resident advisor teaching a man about above the line deductions - Rush Tax Resolution

The money you earn is not necessarily one-to-one with the money you pay taxes on. The IRS provides taxpayers with several means to reduce their tax liability through so-called tax deductions on their income tax return or Form 1040. Of these, there are two kinds:   Above-the-line tax deductions, also known as adjustments to income and;  Below-the-line tax …

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No More Personal Exemptions? Claim These 6 Tax Credits 

Young family man and woman checking household budget expenses to see if they qualify for personal exemptions - Rush Tax Resolution

Taxes can hit families pretty hard. It can be tough enough as it is to save up for the ongoing expenses of running a household, raising children, and managing the growing costs of childcare, education, medical treatment, and insurance for a multi-head household without the toll of high state and federal taxes. Thankfully, families with …

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California Payroll Taxes and Employer Responsibilities

Employer filling out California Payroll Taxes - Rush Tax Resolution

State payroll taxes differ from state to state and must be paid in addition to federal payroll taxes and any form of voluntary payroll deduction. Failure to withhold employee payroll taxes, failure to deposit your payroll tax payments, and failure to accurately file your respective quarterly tax returns and end-of-the-year tax reports can result in …

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