This is a form of savings account in which the owner gets some type of tax advantage. The employer can establish a flexible spending account or flexible spending arrangement for its...
There are bond authorities that are state-chartered in every state. These are housing agencies, healthcare facilities, authorities for the financing of industrial development, etc....
The constructive receipt is a tax concept based on which it is assumed that a taxpayer has received income, even though the income has not yet been physically received, which must...
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
The tax day is around the corner, and it is not too early to start preparing your documents for Uncle Sam. This is a really busy time for accountants and tax professionals since they...
Posted by Pat Raskob on 01/30/2021
We have seen that the stock market has hit several new highs in recent months. This is in addition to the fantastic bull market that ran for more than ten years before the rapid coronavirus...
The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Your basis in a business asset is essentially the cost of that asset. The term applies to all types of assets held by your business, including real estate, land, equipment, and investments...
Tax legislation continually changes, with new laws and regulations springing up every time. With the South Dakota v. Wayfair case, more complications were added to e-commerce...