An enrolled agent is someone who has earned the privilege of representing taxpayers before the IRS by passing a comprehensive IRS test covering personal and corporate income tax returns...
Posted by Karen Munoz, EA on 05/30/2021
When it comes to filing income tax returns, getting the lowest tax liability is not just about skill, it's about what you know. Unfortunately, many taxpayers lose deductions and...
Since preparing your tax return hasn't been intimidating enough, there may be times when you need to amend a pre-filled tax return. While filling out a correct return may seem...
What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
It's tricky to make the mistake of believing that perhaps the benefits of the Roth IRA are limited to retirement. After all, you've presumably been told that you can...
Posted by CORE PERFORMANCE on 02/23/2021
Individual retirement accounts are saving plans that come with various restrictions. It stands out with the ability to allow taxpayers to defer tax payment on the proceeds and earnings...
Under the cash method of accounting, not only is income recorded in the year in which it was received, but income is also reported in the year in which it is constructively received.The...
If you look at the TCJA, you will see that the C Corps' new tax rate is 21%, while the maximum individual rate is 37%. Also, individuals can benefit from a 20% deduction for pass-through...
Posted by CORE PERFORMANCE on 01/14/2021
Kids these days are ambitious and do not mind having a side job to earn some income. For kids young and classified as dependents, they will need to pay taxes. There are cases you might...
Posted by TAX-Net LLC on 01/05/2021