This goes for the money you earn and the interest and dividends you earn on your investments. Unless the IRS specifically describes a type of income as non-taxable, you are expected...
Posted by Tiffany Gaskin on 12/31/2022
After winning a lawsuit or getting a settlement, many people are surprised that they have to pay taxes on what they win. Some people don't realize this until they receive Form...
Posted by Pat Raskob on 12/27/2022
Virtually everyone has suffered a loss, whether it's an accident, which may be covered by accident insurance, or theft.Tornadoes, earthquakes, wildfires, hurricanes, and other...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/30/2022
Sexual abuse is a widespread problem affecting millions worldwide, not just in the United States. It can happen to anyone, regardless of gender, age, or social status. Victims of sexual...
Posted by KLSM CPA Firm PLLC on 03/10/2022
The TCJA (Tax Cuts and Jobs Act of 2017), PL 115-97, made many important changes to the Internal Revenue Code. Among the many changes to the Code, there is a provision on costs associated...
Posted by Taxes Made EZ Inc on 12/10/2021
Legal expenditures are acquired by people who are not deductible when classified in the federal income tax laws. Instead, they are seen as either non-deductible personal expenses or...
Posted by Dennis Jao on 08/06/2021
Forensic accounting is investigating fraud or financial manipulation by conducting very detailed investigations and analyses of financial information. Forensic accountants are often...
Posted by Pat Raskob on 07/31/2021
Failure to pay federal income tax can have serious repercussions. Not only will the IRS likely charge you fines and interest on the unpaid balance, but the IRS may also enforce collection...
Posted by KLSM CPA Firm PLLC on 01/21/2021
Form 1099-MISC (miscellaneous income) is an IRS form that taxpayers use to report non-employee compensation. This is generally a commercial payment, not a personal payment.Freelancers,...
Posted by Dennis Jao on 12/12/2020
