Ideally, scholarships and grants should not be taxable, which is good news for students. However, it is too early to rejoice as Uncle Sam might want a cut based on the amount you got...
Posted by Pat Raskob on 03/08/2021
Amnesty is an expression of forgiveness on the part of the federal government to its citizens. The choice is not to punish a business, an individual, or an entity for a crime. Under...
Your basis in a business asset is essentially the cost of that asset. The term applies to all types of assets held by your business, including real estate, land, equipment, and investments...
The Internal Revenue Service (IRS) recently released annual tax inflation adjustments for 2021 for more than 60 allowances, including tax rate schedules, standard deductions, itemized...
Posted by Rosovich & Associates, Inc. on 12/31/2020
The IRS permits the use of per diem rates (which means "for each day" or "daily rate" in Latin) to facilitate reimbursement for employers and employees. Per-diem...
Taxpayers use form 3903 to deduct moving expenses involved in a new job. This deduction, however, is no longer applicable to all taxpayers. A couple of years ago, Uncle Sam came up...
Being a Caregiver is a pretty tricky job that could also take its toll on your pocket. It is like being responsible for someone's well being, hence everything the person needs...
Pet Moving Expenses: In some cases, moving expenses for your pet may be deductible if you're relocating for work. This includes transportation, lodging, and even pet quarantine...
Posted by True Tax Service on 09/29/2023
The term "miscellaneous expense" refers to a broad range of expenses that individuals and businesses may incur throughout the course of their operations. While some miscellaneous...
Posted by KLSM CPA Firm PLLC on 05/31/2023