Individual retirement accounts are saving plans that come with various restrictions. It stands out with the ability to allow taxpayers to defer tax payment on the proceeds and earnings...
Purchases of new and used commercial vehicles are eligible for tax exemptions per the current tax law. Some vehicles may be eligible for higher deductions than others.The first year...
With many tax benefits available for education, it is evident that the government is interested in making higher education open and more accessible for many people. It can be...
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
The same way all workers pay income taxes in the United States, pastors, clergy, and ministers must pay income taxes. However, there are some tips and considerations people in this...
Most taxpayers will give anything to reduce what they eventually send to Uncle Sam. An effective way to significantly bring down your tax bill is to be smart and wise about the deductions...
Posted by Don Bell Law on 12/15/2020
The standard mileage rate, also known as daily mileage or deductible mileage, is a rate set by the Internal Revenue Service (IRS) per mile maintained by a taxpayer for business purposes...
There is a short provision on the new tax reform bill that was just enacted which might impact how employees settle sexual harassment claims. According to section 13307 of TCJA, there...
529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...