The federal gift tax is intended to prevent taxpayers from disposing of their assets tax-free during their lifetime, which would prevent their assets from being subject to tax on death....
Posted by KLSM CPA Firm PLLC on 04/30/2022
Paying your taxes when due means you don't accumulate penalties and extra charges. Failure to file tax returns or pay due taxes in full also attracts charges.Some people default...
Posted by KLSM CPA Firm PLLC on 02/28/2022
The federal government imposes taxes on free property transfers made during the lifetime (gifts) or in the event of death (bequests/devises) that exceed certain exemption thresholds....
Posted by KLSM CPA Firm PLLC on 01/31/2022
When job seekers go through a job ad, the first thing that always draws their attention is the salary section. If it is not satisfactory, they move on in their search. Just like it...
Posted by Rosovich & Associates, Inc. on 01/09/2022
Those who cannot withhold federal taxes from each paycheck must pay taxes quarterly.United States income tax operates on a pay-as-you-go system, in which the federal government collects...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/11/2021
Uncle Sam allows small businesses to defer tax payment in a series of ways. Here are four methods to make this happen:Apply for a Payment Plan (Short Term)You can defer your tax payment...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/31/2021
In 2001, the IRS was mandated to offer free tax preparation service alongside filing service to taxpayers that qualify. This led to the creation of the free filing alliance in 2003...
Posted by Rosovich & Associates, Inc. on 07/23/2021
A couple of years ago, Uncle Sam reached out to four private companies for assistance in debt collection. The implication of this is that any of these four companies could come after...
Posted by Income Taxes and Bookkeeping LLC on 05/24/2021
The government recently agreed on the details of a $900 billion coronavirus bill attached to a $ 1.4 billion omnibus that will fund the government for fiscal 2021. Congress also voted...
Posted by KLSM CPA Firm PLLC on 01/12/2021
