The Internal Revenue Service (IRS) recently released annual tax inflation adjustments for 2021 for more than 60 allowances, including tax rate schedules, standard deductions, itemized...
Posted by Rosovich & Associates, Inc. on 12/31/2020
Amnesty is an act of mercy on the part of the government. It is the decision not to punish a person, business, or entity for a crime. Under a tax amnesty program, a state provides...
Many people struggle to find the funds they need to build up their retirement savings. Fortunately, a non-refundable tax credit, called a retirement savings contribution credit, can...
One of the more intricate provisions of the Tax Cuts and Jobs Act (TCJA) is the new limitation of business interest expenses. At first glance, this limitation seems simple, but the...
Surviving spouses and children of deceased veterans and service members are eligible for death benefits or DIC. Certain cash benefits are available to survivors of deceased active...
Consider Contributing to a Health Savings Account (HSA):If you're eligible, contributing to a Health Savings Account (HSA) can provide you with a valuable tax benefit. HSAs are...
Posted by True Tax Service on 09/26/2023
What are capital allowances?Capital allowances allow taxpayers to get certain reliefs on capital expenditures by allowing deductions from their annual taxable income. Not all expenditures...
Posted by CORE PERFORMANCE on 05/27/2022
Married couples can file federal income tax returns together or separately. The Internal Revenue Service strongly encourages couples to file joint tax returns, extending more tax cuts...
Posted by CORE PERFORMANCE on 04/09/2022
Although same-sex marriages have been nationally recognized since 2015, some couples may still have a common-law marriage or civil partnership rather than a marriage. Persons living...
Posted by CORE PERFORMANCE on 03/31/2022