Tax credit for other dependents is a system designed by Uncle Sam in which relations (nuclear and extended families) can qualify for tax credits. With this credit, taxpayers can get...
People that are not married and do not qualify for other filing status have the single filing status as their default tax status. Your filing status affects many things like the...
A cannabis business can typically expect a series of scrutiny from the IRS that will want to penalize them if they are not compliant. Here are tips that can help your marijuana business...
Ideally, scholarships and grants should not be taxable, which is good news for students. However, it is too early to rejoice as Uncle Sam might want a cut based on the amount you got...
Posted by Pat Raskob on 03/08/2021
From the title, you can tell that worthless securities are just what they are: worthless, insignificant, and meaningless. These are securities with ZERO market value and may include...
Amnesty is an expression of forgiveness on the part of the federal government to its citizens. The choice is not to punish a business, an individual, or an entity for a crime. Under...
Investing in rental real estate can provide investors with a constant income stream that covers the mortgage and, at the same time, provides additional income each month; when these...
In 2017, the wealth tax cap was $5.49 million. In 2018, the limit doubled to $11.18 million and now stands at $11.7 million. Currently, this growth will expire in 2025, but with the...
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