Many small business owners believe that doing many things themselves can help save money. This, however, is not true of finances as an accountant can save you a lot of money in the...
Posted by Pat Raskob on 07/24/2021
An S corporation, or sometimes referred to as S subchapter or S Corps, is a type of incorporated legal business entity. An S corporation has a similar business structure to a limited...
Posted by Pat Raskob on 07/17/2021
For federal tax purposes, inheritance is not classified as income, no matter what you inherited – cash, property, or investment. However, whatever you earn on such an inherited...
Posted by Pat Raskob on 07/06/2021
Many economists analyze the economic policies of the Biden administration and conclude that inflation is an almost forgone conclusion. Regardless, we are already seeing an increase...
Posted by Pat Raskob on 06/25/2021
The EITC is an important tax credit directed at millions of families across the US. It is one of the most substantial tax credits, making it important for people to access the credit...
Posted by Pat Raskob on 06/18/2021
Many people would love to withdraw early from their 401(k) since they feel it is their money. However, some rules make this a bad idea. 401(k) exist in two types – Roth...
Posted by Pat Raskob on 06/11/2021
Sports betting and gambling is a two-edged sword – fun or depressing depending on your outcome. On top of that, gamblers have to deal with the complication of taxes as Uncle...
Posted by Pat Raskob on 06/06/2021
You might be a professional seller on Amazon, or you disposed of a couple of personal items, it is essential to know how to report such earnings to Uncle Sam when it's tax season. This...
Posted by KLSM CPA Firm PLLC on 06/06/2021
Getting a notice from Uncle Sam that you have outstanding debt can be devastating, especially if you believe there is some mistake. Sadly, owing Uncle Sam and ignoring him will...
Posted by Pat Raskob on 05/30/2021
