According to experts, the best amount to contribute in your 401(k) is between 10 and 20% of your gross salary. It does not matter the destination account; it is essential to contribute...
The process of growing your financial asset is known as investment. This can happen in various ways, like investing in an asset that will give a cash flow, rising prices, or both....
Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
What is considered a convertible virtual currency?Convertible virtual currency is an uncontrolled digital currency. Still, it can be used as a substitute for a real and legally recognized...
The filing status of a taxpayer depends on individual circumstances. Are you married or single? Do you have dependents? Identifying the correct filing condition is essential, as it...
If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...
Have you received an email stating that you have filed a tax return electronically or that your tax return has been accepted or rejected by the I.R.S., but you know you have not filed...
In recent months, the IRS announced that taxpayers would be able to electronically file Forms 1040-X, Amended Form of United States Individual Income Tax Return. According to...
Posted by Don Bell Law on 09/18/2020
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....