1. Contribute to Retirement Accounts:Maximize contributions to your 401(k), IRA, or other retirement accounts. These contributions can lower your taxable income and increase your retirement...
Posted by True Tax Service on 09/11/2023
The term "miscellaneous expense" refers to a broad range of expenses that individuals and businesses may incur throughout the course of their operations. While some miscellaneous...
Posted by KLSM CPA Firm PLLC on 05/31/2023
Small business sales tax is a tax levied on the sale of goods and services by businesses. It is an important source of revenue for many state and local governments and is usually collected...
Think of tax deductions as small (and sometimes not so small) gifts from the IRS. First, its value is subtracted from taxable income, and then the tax bill is calculated based on what's...
Posted by KLSM CPA Firm PLLC on 02/22/2023
As taxes are concerned, individual taxpayers, service providers, and organizations are privileged to know about the Earned Income Tax Credit (EITC) and disability. The EITC has a significant...
Posted by KLSM CPA Firm PLLC on 09/10/2022
Restricted expenditures are common among non-profit organizations. The money donated is to solve a specific program or was contributed to be used after a particular time or event like...
Posted by CORE PERFORMANCE on 07/12/2022
The federal gift tax is intended to prevent taxpayers from disposing of their assets tax-free during their lifetime, which would prevent their assets from being subject to tax on death....
Posted by KLSM CPA Firm PLLC on 04/30/2022
When a person becomes a CPA (Certified Public Accountant), they have attained a highly desirable rung in the accounting ladder. The reason for this is that, as a CPA, the person has...
Posted by KLSM CPA Firm PLLC on 01/09/2022
As an investor concerned with the impact of every dollar invested, it is essential to know your options and make sure that your investments match the issues that matter to you. It...
Posted by CORE PERFORMANCE on 09/19/2021