Health Savings Accounts (HSAs) are individual savings accounts with tax benefits designed specifically to pay the medical bills of people enrolled in High Deductible Health Plans (HDHP).As...
Posted by James Financial Services Inc on 05/30/2021
According to Uncle Sam, charitable contributions are donations or gifts to qualified organizations. However, some rules guide these donations before one can claim charitable donations. Charitable...
Posted by KLSM CPA Firm PLLC on 05/30/2021
Uncle Sam issued tens of millions of tax refunds every year, and every taxpayer gets an average of $2,500 tax payment. If you know how to play it well, there could be bigger tax...
Posted by Taxes Made EZ Inc on 05/24/2021
Taxes on trust funds can create big problems for small businesses. When an employer withholds part of an employee's salary to pay income tax, health insurance, and social security,...
Posted by Taxes Made EZ Inc on 05/19/2021
For most 401(k) plans, the 401(k) tax only applies to withdrawals. Most 401(k) plans are tax-deferred, meaning no income tax on contributions or earnings, interest, or dividends that...
Posted by Flynn Financial Group Inc on 05/18/2021
Thrift savings plans are accounts mostly opened by federal employees; it is a contribution that involves consistency and helps you to choose the right fund that helps you to build...
Posted by KLSM CPA Firm PLLC on 04/30/2021
When it comes to filing income tax returns, getting the lowest tax liability is not just about skill, it's about what you know. Unfortunately, many taxpayers lose deductions and...
Posted by Flynn Financial Group Inc on 04/29/2021
The significant difference between S corps and partnership is the protection limited liability that S corps business owners enjoy. Partnerships, however, do not have this protection,...
Posted by Jim McClaflin, EA, NTPI Fellow on 04/27/2021
A 401(k) plan can be an attractive way to invest because it gives employees the ability to increase their contributions before tax and tax-deferred income until retirement. According...
Posted by Taxes Made EZ Inc on 04/21/2021
