Individual Retirement Accounts (IRAs) offer individuals a valuable opportunity to save for retirement while enjoying certain tax benefits. However, it's crucial to stay informed...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/09/2023
As taxpayers navigate the complex landscape of tax regulations, one important area to be aware of is the treatment of worthless securities. Worthless securities refer to stocks, bonds,...
Posted by Taxes Made EZ Inc on 06/09/2023
Form 1099-K is an essential tax document issued by payment settlement entities (PSEs) to report certain transactions made by merchants or business owners. It assists the Internal Revenue...
Posted by Pat Raskob on 06/09/2023
To revitalize economically distressed communities across the United States, the federal government introduced the Opportunity Zone program as part of the Tax Cuts and Jobs Act of 2017....
Posted by KLSM CPA Firm PLLC on 06/09/2023
Cryptocurrencies like Bitcoin, Ethereum, and others have become increasingly popular investments in recent years. As with any investment, it is important to understand the tax implications...
Posted by Rosovich & Associates, Inc. on 06/09/2023
The term "miscellaneous expense" refers to a broad range of expenses that individuals and businesses may incur throughout the course of their operations. While some miscellaneous...
Posted by KLSM CPA Firm PLLC on 05/31/2023
The federal solar tax credit, also called the investment tax credit, allows users to apply up to 30% of the cost of their solar energy on their federal tax. This credit can be...
Posted by Pat Raskob on 05/27/2023
People who hire household workers, like gardeners, caregivers, housekeepers, etc., will pay an employment tax called the nanny tax. The threshold for the 2023 tax year is $2,600, and...
Posted by KLSM CPA Firm PLLC on 05/27/2023
The collection of income taxes is done on an ongoing plan. And for many, the employer pays both the federal and income state taxes by removing a percentage of the income from each...
Posted by Tiffany Gaskin on 05/26/2023
