This is an employer-sponsored pension plan that offers qualified employees a guaranteed payment during retirement. This is an alternative to the defined contribution plan, which allows...
The FICA tax is the federal law on insurance contributions. The Federal Insurance Contribution Act is a federal payroll of the United States regulating social security and health insurance...
The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
Many of the best retirement savings strategies use employer-sponsored retirement plans, such as a 401 (k) or individual plans, such as an IRA or Roth IRA. These retirement vehicles...
In the year 2020, how much do you think you can save for retirement? The 401(k) contribution limits are up, traditional IRA contribution limits stay the same, and almost all the numbers...
Posted by Debi G Hill, CPA on 12/28/2019
Tax time is on the rise, and if you collect information on health costs, you may wonder whether hospitals pay taxes and how health taxes differ from industry taxes. The answer is a...
Posted by Advanced Accounting & Tax Planning on 08/02/2019
In the United States, personal service incomes are classified under the incomes generated within the country or sources within the periphery of the United States. In general terms,...
Posted by Tax Solutions & Accounting Services on 05/22/2018
Taxpayers for a long time always try to find a way to defer their income and tax payments. Deferring income means taxpayers can keep their money for a while, and the longer they can...
Posted by ALJ Business Services,LLC on 04/23/2018