Uncle Sam gives taxpayers the allowance to reduce their tax bill with a credit for adoption expenses that qualifies provided one meets some qualification requirements. Form 8839...
You might have a home where you stay for some time in a year while you rent it for the other part of the year. Doing this means you have to prorate the incurred expenses between rental...
When two parties agree on something concerning a case, they settle. In this case, the defendant will pay an agreed sum of money to the plaintiff. The plaintiff, in many cases, could...
An alternative minimum tax puts a cap on the tax percentage amount every taxpayer must pay no matter the deductions or credit they claim. As long as your income is above a specified...
When Do You Need to Amend Your Tax Return?Filing an amended tax is a nightmare for many people. You have tried your best to be diligent with the preparation. You spend sleepless nights...
The thought of retiring can be a terrifying prospect. Think about it: it's practically decades of unemployment, assuming you don't work at all during this time, with a set...
Posted by Freddie Cook, CPA on 06/11/2020
A lot has changed since the past decade. First, during the most recent recession, the country has witnessed retirement offerings shifted to a more do-it-yourself approach from employer-based...
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...
How do you account for the costs of health care alongside planning for your retirement? If you're like the others, you are underestimating these expenditures.While Medicare Part...
Posted by YourIRSTaxAdvocate.com on 01/19/2020