Alimony, also known as spousal maintenance or support, is the payment that one partner makes to the other after divorce. The idea is to help low-earning individuals take care of expenses...
Donating to a charity does not only help advance a cause that you have passion for, it also helps bring down your tax bill. This article explores everything you need to know about...
Posted by Carmen Garcia on 07/17/2021
Most taxpayers are only concerned with completing the filing process as quickly and easily as possible. That being said, when it comes to answering each question, please think carefully...
Posted by Carmen Garcia on 05/30/2021
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
If you owe a debt to a lender, such as a loan, hospital bill, or credit card, you can't automatically garnish your wages. Instead, the creditor needs to sue you first and get a...
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...
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
Before leaving the United States, all foreigners (except those listed below) must obtain a "Certificate of Compliance" from the United States Internal Revenue Service. This...
In the United States tax system, individuals can withhold tax payments until April 15 of the following calendar year or use the Pay as You Earn (PAYE) approach, in which taxes are...