Uncle Sam recently announced the 2021 tax rate in a bid to take care of inflation. The top tax rate will be at 37% for 2021 tax returns filed by taxpayers in the year 2022. However,...
Posted by Unifirst Financial & Tax Consultants on 12/31/2020
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Posted by Schneiderman and Friedman on 12/28/2020
Most families are not tax professionals. So when the time comes to hire a nanny, especially if it's your first time, knowing all the details and IRS requirements and your status...
Posted by Tucker Accounting Services LLC on 12/26/2020
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...
Posted by Taxes Made EZ Inc on 12/26/2020
Uncle Sam defines passive activities as a business venture you are not actively involved in. For the purpose of tax, income can be grouped into two categories according to the IRS...
Posted by Abundant Wealth Planning LLC on 12/26/2020
Supplemental Security Income is a program by the Federal government to provide extra income for disabled and seniors in the United States who have little or no income. With this program,...
Posted by Daniel P Vigilante CPA and Profit Consultants on 12/26/2020
The IRS deals with foreclosure as well as the sale of a property. It was already yours, and you no longer own it, so you could end up paying taxes on a mortgaged property. The event...
Posted by Carmen Garcia on 12/26/2020
The Internal Revenue Service (IRS) recently published comprehensive information on their website on tax policy for the cannabis industry, specifically the marijuana industry. The site...
Posted by Don Bell Law on 12/26/2020
We classify a revenue ruling as a public decree from Uncle Sam that has the backing of the law. A revenue ruling states out IRS's tax laws in a way that is easy for people to understand....
Posted by Aurelia E Weems CPA on 12/26/2020
