M D Tax insurance

02/01/2025

We have issue with electricity transformer at our location 1879 Lundy ave 219 San Jose. We have temporarily moved to a new location until the repairs are done
The new location is 1794 clear lake ave Milpitas ca 95035
Since this location is small. We would like you to make appointment before you come to our office
You can call me at (510) 396-4242 for appointment or send me an email at [email protected].

01/28/2024

12/05/2023

Standard deductions for 2024
The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year.
The standard deduction for single taxpayers will be, $14,600, an increase from $13,850 in 2023.
Heads of household will see a $1,100 increase to $21,900 compared to 2023's $20,800.
Tax brackets for people filing as single individuals for 2024
10%: Taxable income up to $11,600
12%: Taxable income over $11,600
22%: Taxable income over $47,150
24%: Taxable income over $100,525
32%: Taxable income over $191,950
35%: Taxable income over $243,725
37%: Taxable income over $609,350

11/22/2023

The IRS announced a delay in the new $600 reporting threshold for Form 1099-K for third-party organizations for the year 2023. The delay was enacted to reduce confusion among taxpayers, tax professionals and payment processors.
The IRS plans to treat 2023 as a transition year, wherein reporting will only be required if the taxpayer receives over $20,000 and has more than 200 transactions. The IRS also plans to implement a $5,000 threshold for tax year 2024, in phase with the $600 reporting threshold required by the American Rescue Plan Act. It aims to minimize burden and provide easier reporting requirements for taxpayers, working closely with third party groups, tax professionals and others to ensure compliance with the law.

10/23/2023

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10/23/2023

10/22/2023

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