What is a health expense reimbursement agreement (HRA)?A health reimbursement agreement (HRA) is an employer-funded plan that reimburses employees for eligible medical expenses and,...
Posted by Schneiderman and Friedman on 01/18/2021
It is not a good idea to turn up empty-handed if you have a tax appointment. You need some records as proof as it will save you time and effort.New clients need to have copies of the...
Posted by Karen Munoz, EA on 12/20/2020
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
As the costs, inconvenience, and safety concerns of commercial flights continue to rise, many people and businesses find using a private jet a better and more efficient form of transportation...
The medical expense deduction is large enough to cover pregnancy tests, braille books, and smoking cessation programs. However, it doesn't cover everything you pay to stay healthy....
There are some rules from section 451 (c) as amended by the TCJA, which makes available ways to have advance payment in income for the tax year that it was obtained.The amendment of...
Posted by Elliot Kravitz, ATP on 11/07/2020
There is a way you can deduct the medical expenses of another person, even if the person is not under the same roof as you. This is a tax break that many do not utilize, especially...
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
Except you have recently taken a vacation to Mars, you must have felt the Covid-19 pandemic pinch. There have been job losses, and people are feeling the heat. With the time for the...