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...
A qualified tuition program, also known as section 529 plans, is an impressive way to prepare to take care of your college finances. What is a Qualified Tuition Program?A qualified...
Alimony, also known as spousal support, is the money paid to a spouse to another after a divorce. The idea is to help the spouse with the lower income to take care of expenses and...
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
One of the things that occupies most of a businessman’s time when it is time to file taxes is how much legitimate tax deductions they can make. Next to saving you some extra...
The IRS permits the use of per diem rates (which means "for each day" or "daily rate" in Latin) to facilitate reimbursement for employers and employees. Per-diem...
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...
Business owners have specific rules and guidelines associated with filing their taxes. Running a daycare can be expensive, and the IRS offers incentives for the expenses incurred....
If you want to enjoy deductions on federal tax bills, mortgage point deduction is a terrific way to claim it. At times, it is sometimes called discount points or origination points;...