The Trader Tax Status (TTS) is for taxpayers who make a living selling and buying securities. The scheme has numerous benefits for day traders, such as remitting business expenses,...
Posted by Dennis Jao on 03/14/2023
There are not-for-profit organizations that do not earn a dime from their activities. The money made in the organization is used to keep the company's day-to-day operation instead...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/08/2023
If you want to make corrections to your tax return from previous years, you will need the amended tax return form. The amended return is to resolve the errors and place you on a tax...
Posted by Tiffany Gaskin on 02/17/2023
Stimulus checks, also known as economic impact payments, are disbursing their third round of funds to qualified millions of Americans. The program was enacted to help Americans during...
Posted by Tiffany Gaskin on 02/07/2023
Financial freedom is everyone's dream, and a journey everyone needs to take. And the fastest way to stay up-to-date is by doing a financial checkup. It is easy to face bankruptcy...
Posted by Pat Raskob on 01/30/2023
Since couples can file their taxes jointly, some partners purposely neglect their tax duties which explains the reasons the innocent spouse relief law was enacted. The program is a...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/17/2023
A pension credit, also called a saver's credit, is a tax credit you can claim by contributing to a pension fund. The credit is calculated on your tax return, which is more beneficial...
Posted by Dennis Jao on 01/09/2023
While the New Year is always a time to celebrate and hope for better things, it also means that tax season is upon us, and this reality brings with it stress for both accountants and...
What is a deductible?A deductible is an expense that a taxpayer or business can deduct from their adjusted gross income when filing a tax form. Deductible expenses reduce your taxable...