Restaurants can claim a federal income tax credit based on the share of FICA and Medicare ("employment") taxes that they pay on reported tip income to employees. In an ideal...
Posted by Elliot Kravitz, ATP on 03/05/2021
Your taxes this year may be dominated by a clear question: "At any point in 2020, did you sell, receive, send, trade, or earned financial interest in any virtual currency?"In...
After you retire from the military, filing taxes may seem less complicated than when you were still in service, but veterans can still benefit significantly from the tax code. To...
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....
What is barter?Barter is an act of exchanging goods or services between two or more parties, sometimes more without using a monetary medium, such as physical cash or credit card. Essentially,...
There are many ways in which sales compliance form applies, and one of them is the Use Tax. It is one of the terms common when applying for a sales tax permit in any state or accessing...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
If you do not pay your taxes on time, interest and penalties will accrue with time. As a result, it is in the best interest of taxpayers to make payments when due. Statute of...
Municipal bonds have long been considered suitable for high net worth investors because their yields are generally excluded from federal income tax and, in some cases, state and local...