First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
Most taxpayers have never had a reason to go to court. Going to court can be intimidating because on the other side of the case is the IRS. Find out how the tax court works and how...
The First-Time Home Buyers Tax Credit was introduced during the 2008 financial crisis to make home shopping more affordable for Americans. While there are many other mortgage and loan...
A household employment tax allows everyone that hires a nanny or a gardener, to name a few, and pays them above $2,200 every year, to pay household employee taxes for their worker....
Posted by Tucker Accounting Services LLC on 01/13/2021
Kids these days are ambitious and do not mind having a side job to earn some income. For kids young and classified as dependents, they will need to pay taxes. There are cases you might...
Posted by TAX-Net LLC on 01/05/2021
An amended income tax return corrects errors in a federal income tax return. Taxpayers use the IRS 1040X form to file an amended tax return. You might be wondering, "Where is...
Posted by Freddie Cook, CPA on 06/11/2020
On December 20, 2019, President Trump enacted the SECURE (Setting Every Community Up for Retirement Enhancement) Act. The main objective of the new law is to expand the possibilities...
Posted by Don Bell Law on 06/11/2020
The tax filing process is pretty complicated. There are many forms, and you will have to include tons of numbers to add and deductions to make. With all these, you need an average...
Posted by Flynn Financial Group Inc on 06/10/2020
The Secure Act was proclaimed to be beneficial for small businesses as presented originally by legislators. The bill aims to "help American workers and their families save for...
Posted by David Macgregor on 04/03/2020