Whenever an asset is sold for profit, there is a net gain. As a result, selling a stock for $200 even if you bought it for $150 gives a capital gain of $50.The rules with selling a...
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
The COVID 19 relief package passed in March 2020 includes provisions valued at $2.3 million to cushion the pandemic's effect. It is called CARES Act and comes with a package for...
We define tax planning as the process of analyzing a financial situation to make sure that you engage every essential and lawful element to make it possible to pay the minimum tax...
Qualified pension plans have many tax advantages but some disadvantages for employers and highly compensated employees (HCEs) or entrepreneurs. For companies, qualified pension plans...
Posted by Daniel P Vigilante CPA and Profit Consultants on 02/23/2021
Most taxpayers have never had a reason to go to court. Going to court can be intimidating because on the other side of the case is the IRS. Find out how the tax court works and how...
As a U.S. citizen or U.S. Resident Alien, you must pay taxes on your worldwide income. Suppose you are not a resident of the United States or its territories or have income in the...
Posted by James Financial Services Inc on 02/23/2021
Uncle Sam needs to be aware of your most recent address to be able to send you vital correspondence and your refund check. The IRS has many options with which taxpayers could notify...
If a survey is done today asking American taxpayers to mention the most significant issue they encounter with local and state tax, a good percentage of taxpayers will say retroactive...