The student interest deduction is a tax deduction of the interest paid on a post-secondary education loan during the fiscal year in the United States, the amount of the lowest deduction...
Posted by Global Accounting on 04/09/2019
Required Minimum Distribution (RMD) This is the amount that retirees over age 70 must withdraw from deferred tax plans such as IRAs and 401 (k) and (b) 403. The rules of the RMD are...
Posted by Global Accounting on 04/09/2019
If you are a foreigner (not a US citizen), you are considered a non-resident alien if you do not pass one of the two exams. You are a foreign resident of the United States for tax...
Posted by Global Accounting on 04/09/2019
Did you receive an e-file rejection message when you tried to file your tax return? Did it say something like: “A dependent on your return has already been claimed on another...
Posted by Duce Taxes & Accounting on 11/30/2018
Pension plans specifically intended for self-employed individuals and small businesses are called Simplified Employee Pension (SEP) Plans. It’s also known as SEP/IRAs because...
Posted by John Pournaras Agency on 08/30/2018
Working out with the international tax matters can be complex when it comes to deal with them on daily basis. The planning and execution of the international tax can be difficult for...
Posted by Foudy CPA Group,PC on 03/26/2018
As the word itself describes, Partnership is a business legally owned by two or more owners. Since partnerships have no corporate status, they do not have to be taxed directly...
Posted by Esther N. Phahla, CPA, A Professional Corporation on 03/23/2018
A defined cash benefit plan is a pension plan which allow you to make contributions that are tax deductible up to a maximum amount. Contributions which are allowed are often dependent...
Posted by rinehimerbaker on 03/01/2018
Back in 2015, the IRS overhauled some rules regarding deductions related to retirement savings accounts. While HSA funds are largely unaffected, taxpayers doing their best to reduce...
Posted by Advantage Tax Service on 07/05/2017