Maintaining a new year's financial resolution requires doggedness. Many people plan to visit the moon, before they finish building a rocket. The promises you make every January...
When you file tax returns, deductions reduce your income and the amount you owe. Taxpayers have two options: they can claim a standard deduction, or they can specify and request specific...
When it comes to who you can claim as a dependent on your tax return, the Internal Revenue Service (IRS) defines “relative” somewhat loosely -- that is the good news. The...
What are the 2 and 20 (hedge fund rate)?The global hedge fund industry has seen a downward trend in management and profitability over the last decade, challenging the traditional "2...
Posted by Advanced Accounting & Tax Planning on 11/25/2019
Imagine that you have just taken up part-time employment and your employer has given you a much smaller pay check than you expected thanks to tax deductions and income tax withholding.Such...
Posted by Advanced Accounting & Tax Planning on 10/29/2019
The tax season may be over for most taxpayers, but fraudsters do not give up. The Internal Revenue Service (IRS) has recently warned taxpayers and tax professionals against a new fraudulent...
Posted by Elliot Kravitz, ATP on 09/30/2019
More people are choosing to work from home with the rising influence of computers and information technology in the workplace. Working from home allows you to deduct home office expenses...
Posted by Elliot Kravitz, ATP on 09/30/2019
An unexpected, unusual or sudden event that causes damage to your property would allow you to enjoy a casualty deduction -- in that tax year -- for the loss to your property. The...
If you have availed a home loan, you are entitled to claim an Income Tax deduction called a home mortgage point. The deduction will be the equivalent of one percent of the loan amount....
Posted by Valderas Financial Solutions LLC on 09/26/2019