Many older children these days now look after and take care of their aged parents. Unknown to many; however, Uncle Sam can reward you in the form of tax credit for such care to reduce...
Posted by Elliot Kravitz, ATP on 06/24/2021
Income from fundraising is not considered a taxable source of income by the IRS. Tax fundraising laws define donations as gifts, which recipients do not have to report on their tax...
Posted by Flynn Financial Group Inc on 05/29/2021
Due to the insurgence of the COVID, many people have found themselves in situations that are beyond their control which results in them seeking financial assistance. There are different...
For most startups, maintaining tax obligations is a headache. This guide examines the main steps and concepts you need to know about a sales tax. What is sales tax?Sales tax,...
According to experts, the best amount to contribute in your 401(k) is between 10 and 20% of your gross salary. It does not matter the destination account; it is essential to contribute...
Most taxpayers will likely agree that the US tax code is complicated and difficult to understand. It is, therefore, evident that some common tax myths have arisen over the years. And...
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...
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...
A taxpayer will often end up with a huge tax bill that will be above what they can afford. This leaves most taxpayers confused on the next cost of action. Owing Uncle Sam, a sum...