If you are one of those persons who supported your parents financially in the previous year, the U.S government is willing to share the cost by providing certain deductions when you...
It is not a good idea to turn up empty-handed if you have a tax appointment. You need some records as proof as it will save you time and effort.New clients need to have copies of the...
Posted by Karen Munoz, EA on 12/20/2020
All investors and shareholders that get dividends and distribution will have the dividend reported on IRS Form 1099. Examples of dividends reflected on the 1099 DIV form are capital...
What is the 1099-PATR form?The forms in the IRS 1099 Series helps taxpayers report money received from various lesser-known sources. Form 1099-PATR is the IRS form sent to taxpayers...
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
Also known as REIT, a real estate investment trust is known as a mutual fund for real estate. From the name, one can infer that the trust invests in investments related to real estate....
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
One of the most popular forms of investment is dividend investing. Dividends provide a smooth income stream to investors. You have two options when the dividend accumulates on a stock....
The US tax system is set up on both the federal and the state level. There are several taxes which citizens must file. These taxes include: income tax, capital gains and sales tax....