Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...
Bad debts arise because money was loaned to a debtor or a customer received credit for purchasing a product or service, but the recipient could not fully or partially repay the debt....
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
Carried interest is part of the income obtained when a private equity fund sells an asset. Sometimes called "carry," it is part of the net capital gains of the sale fund....
Divorce is hard and horrible. But at times, love turns sour, and two people have to part ways. The singular decision of parting ways involves many things. There are a ton of decisions...
On Dec. 20, President Trump signed into law the Setting Every Community Up for Retirement Enhancement Act, or the Secure Act. The new law is mainly intended to expand opportunities...
Posted by Larry Hurt on 04/27/2020
The rise of online and discount brokerages is making people interested in trading and the stock market. However, taking advantage of the various strategies on asset protection and...
Prepared or not, tax return reporting was amended once more for the 2020 tax year. The IRS considerably fused the Form 1040 in 2018 which results in a total reconstruction of the old...
Posted by Freddie Cook, CPA on 04/03/2020
With Social Security Statement, you will know your initial retirement benefits based on your income of the moment and possible income in the future.You must remember that you will...