Many small businesses are slammed with tax penalties for errors that can be avoided. This article will explore these mistakes to keep you from turning out thousands of dollars in penalties...
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
First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
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...
With many tax benefits available for education, it is evident that the government is interested in making higher education open and more accessible for many people. It can be...
What if you had the chance to win an award of excellence for your outstanding contributions to art, community service, or science? Do you have to pay income tax on this amount? The...
Filing taxes is a time when some people are seeking the biggest refund, and others are just looking to owe the IRS less money. In order to accomplish these goals, people are...
Several charities are experiencing a drop in donations as the United States grapples with the COVID health crisis. In response, Congress included a clause in the CARES Act, designed...
The non-profit status may make an organization eligible for certain benefits, such as exemptions on state sales, property tax, and income; however, this corporate status does not automatically...