Tuqan Tax & Finance Blog
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Enrolled Agent vs. CPA
Understanding the Key Differences When it comes to professional tax and accounting services, two designations often come up: Certified Public Accountant (CPA) and Enrolled Agent (EA). Both professionals can offer valuable expertise in managing taxes, but they differ in their scope of work, credentials, and areas of specialization. Understanding these differences can help individuals and…
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Understanding Estimated Taxes and Filing Form 1040-ES
For many taxpayers, particularly those with non-traditional income sources, paying taxes isn’t just an annual event. If you are self-employed, receive significant investment income, or have other income sources that don’t have withholding, you are likely required to pay estimated taxes quarterly. This ensures that you are keeping up with your tax obligations throughout the…
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Married Filing Jointly vs. Married Filing Separately
A CPA’s Guide to Choosing the Right Filing Status When tax season approaches, married couples have an important decision to make: should they file their taxes jointly or separately? This decision can have a significant impact on their overall tax liability, deductions, and credits. While the default for many couples is to file jointly, there…