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
Marriage can affect taxes in several ways. While everyone's situation is different, certain marriage tax benefits help you pay less tax. In addition, they will have tax options...
Posted by Taxes Made EZ Inc on 03/24/2022
Today, relatively few Americans itemize deductions on their tax returns. You can claim either the standard deduction or the itemized deductions, but not both. And, of course, you always...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 02/08/2022
No one is ever excited at the thought of paying taxes. Indeed, sending a portion of your earnings to Uncle Sam might not sit well with many. The consolation, however, is in the fact...
Posted by KLSM CPA Firm PLLC on 11/30/2021
The emergence of the pandemic caused unemployment rates to soar exactly like it was in the time of the Great Depression. To salvage the situation, the U.S. lawmakers passed the CARES...
Posted by Tiffany Gaskin on 11/04/2021
The CARES (Coronavirus Aid, Relief, and Economic Security) Act establishes many major loan and tax exemption programs to help tribal-owned businesses stay afloat and retain their employees...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 08/15/2021
A tax credit allows you to deduct a certain amount of money from the taxes you owe. It differs from a tax deduction, which allows you to reduce your taxable income. Tax credits are...
Posted by Rosovich & Associates, Inc. on 06/24/2021
After Hurricane Katrina, it became quite common for Congress to enact tax legislation that provides tax relief for victims of natural disasters. The Internal Revenue Code's (IRC)...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/19/2021
This is a form of savings account in which the owner gets some type of tax advantage. The employer can establish a flexible spending account or flexible spending arrangement for its...
Posted by Rosovich & Associates, Inc. on 03/16/2021
