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Understanding CSED and Using It to Your Advantage

How to Use the CSED to Your Advantage - Rush Tax Resolution

Your filing status, income, choice of deduction, and any eligible exemptions, tax credits, and applicable refunds usually determine your tax liability. But with so many variables, there’s always the possibility that mistakes are made and additional taxes are owed. That, amongst other reasons, necessitated the calculated collection state expiration date (CSED). Whether it was a …

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When to File a Nonresident State Tax Return

When to File a Nonresident State Tax Return - Rush Tax Resolution

The federal government requires you to report all income, calculate your total tax liability, and subtract the standard deduction (or any qualifying itemized deductions). However, most states also require you to pay additional state income taxes, which can be complicated. If you live in one state but work in another, you’ll need to fill out …

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Standard vs Itemized Deductions: Which Is Right for You?

Standard vs Itemized Deductions: Which Is Right for You? - Rush Tax Resolution

When preparing a federal tax return, you can choose between a standard deduction or several itemized deductions. In either case, a tax deduction is designed to reduce a taxpayer’s tax liability. This is primarily to reimburse losses, incentivize investment, and reduce the tax liability for low-income households. Your standard deduction depends on your filing status, while …

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