The COVID-19 pandemic is complicating several people's efforts to file their 2020 taxes ahead of schedule, but the good news is that the Internal Revenue Service (IRS) has been...
The process of growing your financial asset is known as investment. This can happen in various ways, like investing in an asset that will give a cash flow, rising prices, or both....
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...
The HEART (Heroes Earnings Assistance and Relief Tax Act 2008) Acts provides tax and retirement benefits for service members who are disabled while on active service for more than...
What is barter?Barter is an act of exchanging goods or services between two or more parties, sometimes more without using a monetary medium, such as physical cash or credit card. Essentially,...
All income begins with gross income, which is the total of all money earned in a year. This includes wages, salaries, bonuses, capital gains, and interest income. As we know from our...
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....
Municipal bonds have long been considered suitable for high net worth investors because their yields are generally excluded from federal income tax and, in some cases, state and local...
If you look at the TCJA, you will see that the C Corps' new tax rate is 21%, while the maximum individual rate is 37%. Also, individuals can benefit from a 20% deduction for pass-through...
Posted by CORE PERFORMANCE on 01/14/2021