Choosing a business structure requires a calculation that balances tax and legal benefits with costs and time to set up. It is one of the most critical decisions you will make when...
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...
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 Health Coverage Tax credit is a program funded by the Federal Government to assist people classified as displaced workers by the Department of Labor, US, and people benefiting...
Certain disability and retirement benefits may be open to qualified Railroad employees and their spouses.Railroad Retirement is similar to the Social Security system but legislatively...
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
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...
Opening up the business of your choice is not a walk in the park. It is not enough that you have the necessary capital to invest in the type of shop or store that you have been planning...
When it comes to taxes, the federal income tax is the one that gets the most attention. However, this is far from the only money American residents pay the government. Most states...