A defined benefit plan, more commonly known as a pension plan, provides guaranteed retirement benefits to employees. Defined benefit plans are primarily funded by the employer, with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/26/2023
If you are an American who has lived or worked outside of the United States, you will almost certainly need to file a tax return with the IRS and be eligible for the foreign tax credit....
Posted by Taxes Made EZ Inc on 01/26/2023
The IRS allows taxpayers to deduct medical expenses used by themselves, their spouses, or someone claiming them as a dependent. Although tax returns do not accept medical deductions...
Posted by Pat Raskob, Emeritus on 01/26/2023
Unpaid payroll tax penalties are charges imposed by the Internal Revenue Service (IRS) on an employer's account if they fail to collect, report, and remit employment taxes.What...
Posted by Tiffany Gaskin 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
If you're a small business owner, you may be looking for ways to stand out in the hiring process or to keep hard-working employees at your company. One of the ways to achieve this...
Posted by KLSM CPA Firm PLLC on 12/31/2022
There are many retirement accounts, but two are familiar – the Roth IRA and the 401(k). The two have a big difference: you can get a 401(k) account from your workplace while...
Posted by Taxes Made EZ Inc on 12/27/2022
The Collection Due Process (CDP) is a time to take a break from the IRS by proposing a deal to avoid the IRS collection penalty. The process was enacted alongside the Internal Revenue...
Posted by Rosovich & Associates, Inc. on 12/26/2022
The first-time home buyer's tax credit was introduced during the 2008 financial crisis to help Americans buy more affordable homes. Although there are many other mortgage and loan...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/18/2022
