Almost every gambler looks forward to winning when they bet on a sport. Unknown to most gamblers; however, the taxman also wants his cut. Uncle Sam considers sports betting winning...
Posted by Karen Munoz, EA on 10/30/2021
Every taxpayer needs to ensure they get all the credits and deductions that they qualify for, as this is the only way to legally reduce your tax bill. Uncle Sam does not care...
Posted by Karen Munoz, EA on 09/26/2021
It is common for someone to live in one state and have employment in another state. In this case, one might need to file a nonresident tax return if they have earnings in a state they...
State laws generally govern the gaming industry. These laws can be very or less strict, depending on how the state views the industry, and most laws are aimed at promoting responsible...
The federal government estimates that approximately 60% of people use paid tax preparers to complete and file their tax returns. If you fall into this category, you have nothing to...
Posted by Tim Thompson CPA PLLC on 06/15/2020
Much has been circulated to use an IRA, particularly a Roth IRA, as another type of college savings account. The basis of this idea is that you can avoid the 10% penalty for early...
Posted by David Macgregor on 05/18/2020
Taxable income is the sum used in estimating the amount of tax a person or corporation owes to the government in a given fiscal year. Generally, it is described as a gross income or...
Posted by Advanced Accounting & Tax Planning on 11/05/2019
As you are probably aware, the large proportion of your income is taxable. Whether earned through a salary, hourly wages, tips, commissions, rent from a property that you lease or...
Posted by Elliot Kravitz, ATP on 07/25/2019
Financial scammers these days are starting to get really smart in finding ways to steal your money. If you’re not careful, you can be an easy target and everything you worked...
Posted by Duce Taxes & Accounting on 11/05/2018