When it comes to paying taxes, having dependents can significantly impact your tax situation. With dependents you can qualify for certain tax deductions and benefits, both of which...
Posted by KLSM CPA Firm PLLC on 07/29/2023
Finance is a major concern in a relationship. Money can lead to many troubles in marriage, leading to an explosive argument. Some couples face money problems from spending habits,...
Posted by KLSM CPA Firm PLLC on 03/31/2023
Before hiring a financial professional, you must ensure the service provided meets your needs. Start by recognizing what you want, then use these ten questions to scrutinize the advisor...
Posted by CORE PERFORMANCE on 08/11/2022
OverviewEconomics is divided into two primary categories: microeconomics and macroeconomics. Microeconomics studies individual and business decisions, while macroeconomics analyzes...
Posted by CORE PERFORMANCE on 07/01/2022
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
Although same-sex marriages have been nationally recognized since 2015, some couples may still have a common-law marriage or civil partnership rather than a marriage. Persons living...
Posted by CORE PERFORMANCE on 03/31/2022
Who is a tax dependent?A tax dependent is a relative or child whose characteristics and relationship with you allow you to claim certain credits and tax deductions, such as head of...
Posted by CORE PERFORMANCE on 03/10/2022
The federal government imposes taxes on free property transfers made during the lifetime (gifts) or in the event of death (bequests/devises) that exceed certain exemption thresholds....
Posted by KLSM CPA Firm PLLC on 01/31/2022
The Restructuring and Reform Act of 1998 marked a change that mandated Uncle Sam to adjust how it treated taxpayers. Uncle Sam must fully communicate with taxpayers and grant them...
Posted by Karen Munoz, EA on 12/18/2021