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...
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...
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...
There has been a lot to be done about the Affordable Care Act: from passing the law under President Obama to repealing the law under President Trump. This has left many people confused...
Posted by Pat Raskob on 01/19/2021
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...
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
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...
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...
Many taxpayers do not like taking the home office deduction because they fear they might raise some eyebrow from the IRS. Sadly, this is true, especially if you take excessively large...