529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
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...
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....
While the separate filing of tax is a good idea and comes with its advantages, filing jointly brings about significant tax breaks in addition to being a simple method. We compiled...
A sales tax is a consumption tax exacted by the government for the sale of goods or services. An established sales tax is levied at the store, collected by the retailer, and sent to...
Posted by Tim Thompson CPA PLLC on 07/16/2020
Almost every business is suffering the impact of the COVID-19 pandemic. There are new challenges that companies must overcome. Everyone charged with the mandate of maintaining companies...
Living and working abroad is an incredibly interesting opportunity. However, because U.S. taxes are based on citizenship, Americans living in a foreign country must continue to file...
Posted by Flynn Financial Group Inc on 07/09/2020
Recognize whether which of the standard deduction and itemized deduction suits you before you file.Although you don’t have plenty of choices when it comes to paying taxes, you...
You may be tempted to pay the minimum amount due on your credit card statement, but it can be very costly.When you receive your credit card bill, you can usually pay three amounts:...
Posted by Tim Thompson CPA PLLC on 05/18/2020