In general, any form of military payment obtained while deployed to a combat zone is excluded from federal income tax. This translates into significant tax savings for the active combat...
How much you paid for your cryptocurrency (cost basis) greatly impacts the taxes you pay when you finally sell them. Understanding how the specific ID, first-in, first-out (FIFO),...
For everyone buying a home via financing, the mortgage interest rate has a huge impact. Mortgage borrowers, however, are interested in the lowest rate possible. Yet, money lenders...
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
Your business is personal good, has resources within its walls, and has a huge impact on what your organization owes in tax. Unfortunately, this critical perspective is often overlooked...
Currently, there are more than 10 million taxpayers who haven’t filed their tax returns (known as non-filers) in the United States. Thanks to a budget increase, the IRS is prepared...
Posted by Ace Plus Tax Resolution on 08/04/2020
Many people may believe that they can get away without filing taxes if they don’t receive any notices in that corresponding year. However, the Internal Revenue Service will investigate...
Posted by Ace Plus Tax Resolution on 07/22/2020
Oh, what good news it is for taxpayers – that there is a program that allows them to pay way less than what they owe. This is called the IRS Offer in Compromise (OIC).However,...
Posted by Don Bell Law on 07/16/2020
A sales tax is a consumption tax exacted by the government for the sale of goods or services. An established sales tax is levied at the store, collected by the retailer, and sent to...
Posted by Tim Thompson CPA PLLC on 07/16/2020