With a health savings account (HSA), anyone that has a high deductible health plan that qualifies can use pre-tax dollars for approved medical expenses. The money is kept using an...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/25/2021
The last thing any business owner wants is to be audited by Uncle Sam. Truthfully, the probability of an audit is generally low though some red flags can trigger a business audit....
Posted by Rosovich & Associates, Inc. on 05/29/2021
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
A 401(k) plan can be an attractive way to invest because it gives employees the ability to increase their contributions before tax and tax-deferred income until retirement. According...
All workers and employers in the service industries where tips occur should abide by the relevant tax rules. One needs to pay income tax, Medicare tax, and Social security taxes on...
When dealing with taxes, one needs to be proactive as things do not always move in a single direction. One might receive an income now with the mandate to repay some or everything...
Do you know if you are considered a household employer? If you've just hired a caregiver, babysitter, housekeeper, or someone else to help you around the house, then there is a...
The Health Coverage Tax credit is a program funded by the Federal Government to assist people classified as displaced workers by the Department of Labor, US, and people benefiting...
Certain disability and retirement benefits may be open to qualified Railroad employees and their spouses.Railroad Retirement is similar to the Social Security system but legislatively...