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Deductions
Should There Be a Charitable Deduction?
Charitable DeductionCharitable deductions allow individuals and corporations to reduce their taxable income by the amount of their contributions to qualifying organizations, encouraging support for causes like education, healthcare, and disaster relief. While the deduction undeniably fosters generosity, its role in…
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Business
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State and Local Taxes
Nevada Cannabis Taxes: An Overview
The legalization of cannabis in Nevada has led to a significant transformation in the state’s…
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Property Taxes
Does a Gift Have to Take Place for GSTT to Apply?
GSTT does not necessarily require a physical gift to occur; it applies broadly to generation-skipping transfers, which may include direct gifts, trust distributions, or transfers at death. Understanding GSTT is essential for estate planning and compliance, as this tax is…
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Calculator
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Paycheck Calculator
New Mexico Paycheck Calculator 2024 - 2025
The question “How much is taken out of paycheck in New Mexico?” depends on several factors. These include the number of employees, the frequency of their payments, and how much tax they pay. Also, you need to factor in deductions…
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