What Are Medicare Savings Programs?If your family's income and resources fall below certain levels, you may be eligible for one of five federally funded programs to help pay for...
According to Uncle Sam, charitable contributions are donations or gifts to qualified organizations. However, some rules guide these donations before one can claim charitable donations. Charitable...
Posted by KLSM CPA Firm PLLC on 05/30/2021
Does the IRS take a large chunk of your cryptocurrency income? Maybe you traded one cryptocurrency for another at the right time and withdrew a lot of it in dollars, and now you have...
Posted by CORE PERFORMANCE on 05/29/2021
For people that want to donate money to a political campaign, it is essential to think if one can deduct it from your tax return. The answer is no, as Uncle Sam specifies that...
Posted by Tucker Accounting Services LLC on 05/06/2021
Many people have hobbies like playing the piano or bead making simply for fun and do not expect any special monetary compensation from it. Some hobbies might require a couple...
There are a series of tax breaks and deductions you can claim if disabled and with this, you get to significantly reduce your income tax and even have a robust tax refund. The...
There are several ways to reduce the tax burden. However, the two most popular are probably tax credits and tax deductions. While they may look the same, they are two very different...
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...
What is a health expense reimbursement agreement (HRA)?A health reimbursement agreement (HRA) is an employer-funded plan that reimburses employees for eligible medical expenses and,...
Posted by Schneiderman and Friedman on 01/18/2021