Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
The COVID 19 relief package passed in March 2020 includes provisions valued at $2.3 million to cushion the pandemic's effect. It is called CARES Act and comes with a package for...
The HEART (Heroes Earnings Assistance and Relief Tax Act 2008) Acts provides tax and retirement benefits for service members who are disabled while on active service for more than...
Following new retirement legislation and subsequent guidance from the Internal Revenue Service (IRS), retirees and beneficiaries now have three required minimum distribution (RMD)...
The employer shared responsibility requirements under the Patient Protection and Accessibility of Care Act (PPACA or ACA) include the employer's mandate - paid or play- and the...
If you request a medical exemption, you will need to complete IRS Form 8965 when filing for federal income tax. This form helps you comply with the Affordable Care Act's rules...
Posted by Dennis Jao on 02/16/2021
There are a series of tax breaks and deductions you can claim if disabled and with this, you get to significantly reduce your income tax and even have a robust tax refund. The...
Obviously, it is good to save early for retirement as one will qualify for more benefits, but one also needs to prepare for taxes, when retired. Here are some proven tips to reduce...
Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...