What is a combat zone?A combat zone is designated as a war zone for a specified period with the aim of reporting to the Internal Revenue Service by military personnel. While serving...
Everyone that needs to pay for school fees using Coverdell ESA or 529 will likely get Form 1099-Q from the IRS. This reveals the entire withdrawal made in the year to cover your school...
Background. Effective for each tax year beginning after December 31, 2017, an ATEO is generally subject to a special tax (currently 21%) on the amount of any employee's overcompensation...
One of the most popular forms of investment is dividend investing. Dividends provide a smooth income stream to investors. You have two options when the dividend accumulates on a stock....
Carried interest is part of the income obtained when a private equity fund sells an asset. Sometimes called "carry," it is part of the net capital gains of the sale fund....
The average amount that goes out to taxpayers every month is $3,000. As a result, a tax refund can have a significant impact on many people's finances. This article will explore...
Posted by Don Bell Law on 08/19/2020
The Tax Cuts and Jobs Act (TCJA) of 2017 reduced the federal income tax rate for C Corps to 21%, effective January 1, 2018. With this tax rate reduction, business owners can assess...
Article Highlights:General statute is 3 years Some states are longer Fraud, failure to file and other issues can extend the statute Records to dump Record to Keep...
Posted by Ace Plus Tax Resolution on 08/04/2020
You should be considering withdrawing from your retirement savings if you are out of work and need income. Normally you have to pay a 10 percent early withdrawal penalty if you will...
Posted by Tim Thompson CPA PLLC on 07/16/2020