It may come as a surprise that awards and prizes are taxable. The prize is filed under income tax if a taxpayer receives an award from a competition. This is because the market value...
Posted by Pat Raskob, Emeritus on 11/30/2022
A tax deduction is a legal method of reducing your taxes without being penalized. There is a wide margin between a deduction and credit, and the value is not the same, making it look...
Posted by Taxes Made EZ Inc on 11/10/2022
The world has shifted to enticing kids with trends, fashion, gadgets, and the tastiest treats. But as parents, we still need to inculcate money talks with our kids. How can mums and...
Posted by Rosovich & Associates, Inc. on 10/30/2022
There are specific organizations that provide tax benefits to their donors. For example, the Internal Revenue Code provides tax incentives to people donating to organizations like...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/26/2022
Double your tax return with these credits!What's the sweetest thing about doing your taxes? Watching the amount you owe drop drastically and the amount you get back skyrockets!But...
Posted by Tiffany Gaskin on 09/30/2022
Tax exemption has risen to over $5 million in the past years. The rise has reduced the need for life insurance for families struggling to pay estate taxes. But you can still enjoy...
Posted by Rosovich & Associates, Inc. on 09/18/2022
Taxpayers are paying lower taxes as individuals or businesses, which is a massive change in the pocket of many. The umbrella covering these taxpayers is called the IRS Fresh Start...
Posted by Dennis Jao on 07/12/2022
There is a lot to be done as an individual or business owner. People juggle between everyday tasks with little or no spare time to file taxes. A tax bill from Uncle Sam can halt business...
Posted by Tiffany Gaskin on 06/24/2022
Do you want your children to do better financially than you? Do you want them to stick to a budget and invest in their future? Financial education is essential.A 2018 National Financial...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/11/2022
