Traditional and Roth IRAs may be the king and queen of the retirement prom, but there are other great options that savers shouldn't ignore.Although there are lesser-known SEP,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/06/2021
The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
It is normal to wonder when Uncle Sam will send your tax refunds if you have filed your taxes for the year. The IRS reveals that nine of ten taxpayers that file electronically can...
If you need to file for an individual federal income tax return, you will now use the IRS Form 1040 or 1040-SR for Seniors. The other alternatives above: Forms 1040A and 1040EZ ended...
If you are moving to a foreign land to settle, start a new job, or even set up a business, the US Expat taxes might qualify you for some tax exclusion. One, however, needs to apply...
When is the perfect time to give birth to a child during a tax year so as to claim that child as dependent on your tax return? You might be amazed by the answer: but anytime during...
The Internal Revenue Service (IRS) recently released annual tax inflation adjustments for 2021 for more than 60 allowances, including tax rate schedules, standard deductions, itemized...
Posted by Rosovich & Associates, Inc. on 12/31/2020
The child tax credit is a credit that can give you up to $2,000 for each qualifying child while a qualifying dependent gets $500. It is a refundable tax credit that diminishes when...