You open an individual retirement account known as an inherited IRA on inheriting a tax-advantaged retirement plan like an IRA or 401(k). The heir needs to transfer such assets from...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/24/2021
Some people are lucky in their relationship with Uncle Sam as all they do is file their taxes and expect a refund or send in their balance for every tax year. Sadly, it is not so straightforward...
One of the most popular ways to file taxes is via e-filing due to the convenience alongside the increased turnaround time filers get. When you file online, the tendency and number...
Bankruptcy is not an unfamiliar term to most people in the US. It is usually an option for people who are unable to settle their debts. It helps in making a plan that will enable them...
Getting a new car is an interesting process. New seats, new windows, the smell of a clean car - what's not to like about it? Buying a new car usually means getting rid of an existing...
Many people think bankruptcy is a cure-all for their debts. In many cases, however, this is not the case. Yes, the money you pay on your tax debt is unique, and you will have to deal...
Posted by Taxes Made EZ Inc on 07/16/2020
What Is the Standard Deduction?The standard deduction is a fixed dollar amount that reduces your taxable income. It's designed to simplify the tax-filing process and provides a...
Posted by True Tax Service on 10/26/2023
Gather All Necessary Documents:Collect all relevant tax documents, including W-2s (for employment income), 1099s (for various types of income), mortgage interest statements, investment...
Posted by True Tax Service on 09/12/2023
As a self-employed worker, you can claim the status of an independent contractor. However, when it comes to paying taxes, your status has its peculiarities.If you're an independent...
Posted by CORE PERFORMANCE on 03/17/2022