As a freelancer or self-employed individual, taking advantage of every tax deduction available to you is important. Deductions help lower your taxable income and save you money on...
Posted by Taxes Made EZ Inc on 03/14/2023
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...
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...
Early withdrawal has a downside to your retirement account. Retirees can take up to 100,000 dollars from their account as of 2020 tax-free. However, the 100,000 dollars is placed per...
Posted by Rosovich & Associates, Inc. on 09/27/2022
A 401(k) work plan helps you save a considerable amount each year in retirement, but there are annual limits for your contributions and those of your employer. Whether you choose a...
A 457(b) plan is an employer-sponsored retirement savings account with tax benefits. With this plan, you contribute pre-tax money to your salary, and that money will not be taxed until...
One of the more intricate provisions of the Tax Cuts and Jobs Act (TCJA) is the new limitation of business interest expenses. At first glance, this limitation seems simple, but the...
This is an employer-sponsored pension plan that offers qualified employees a guaranteed payment during retirement. This is an alternative to the defined contribution plan, which allows...
An IRS relief procedure for certain former citizens was introduced in September 2019 to allow certain Americans to renounce their U.S. citizenship without paying taxes and fines.The...