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...
Personal Information:Social Security Number (SSN): You and your dependents' SSNs are essential for tax identification.Filing Status: Determine your filing status (e.g., single,...
Posted by True Tax Service on 10/23/2023
Taxation of trust fund incomeDeath and taxes are two things that you cannot avoid in life. While there are ways to minimize your tax participation, you certainly can't get rid...
Finding out your business's shape can seem like a chore, as there are many types of businesses to start. A good option is a limited liability company (LLC), which has some of the...
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
We want to remind you of the federal education tax benefits you may be eligible for. Making the most of these tax benefits would help reduce spending on higher education.If you're...
Posted by Carmen Garcia on 07/24/2020
This year’s tax day has been delayed by the United States Internal Revenue Service from the 15th of April to the 15th of July. This means a lot of Americans won’t be worrying...
Posted by Tim Thompson CPA PLLC on 06/23/2020