With section 179, businesses can deduct the entire cost of significant assets such as business equipment and furniture immediately instead of depreciating them over time. Principle...
Posted by Rosovich & Associates, Inc. on 09/09/2021
A charitable gift annuity is a contract between a charity and a donor bound by some terms explained below:The donor makes a considerable gift to the charity via cash, security or other...
Posted by Rosovich & Associates, Inc. on 08/24/2021
No one loves the idea of giving Uncle Sam the hard-earned money. However, it is horrible to leave a tax deduction that could bring down your tax bill due to ignorance. As a result,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/30/2021
Uncle Sam issued tens of millions of tax refunds every year, and every taxpayer gets an average of $2,500 tax payment. If you know how to play it well, there could be bigger tax...
Some people are lucky in their relationship with Uncle Sam as all they do is file their taxes and expect a refund or send in their balance for every tax year. Sadly, it is not so straightforward...
The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
After Hurricane Katrina, it became quite common for Congress to enact tax legislation that provides tax relief for victims of natural disasters. The Internal Revenue Code's (IRC)...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/19/2021
Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
Getting a new car is an interesting process. New seats, new windows, the smell of a clean car - what's not to like about it? Buying a new car usually means getting rid of an existing...