An annuity is a customisable contract typically issued by an insurance entity which converts your premiums into a guaranteed fixed income stream. You can consider an annuity as a legal...
Posted by Taxes Made EZ Inc on 09/07/2023
For everyone dealing with back taxes from the IRS, there are a couple of options to help you resolve the issue. This article explores several opportunities to settle the tax...
Posted by Pat Raskob on 06/15/2023
People who hire household workers, like gardeners, caregivers, housekeepers, etc., will pay an employment tax called the nanny tax. The threshold for the 2023 tax year is $2,600, and...
Posted by KLSM CPA Firm PLLC on 05/27/2023
There are not-for-profit organizations that do not earn a dime from their activities. The money made in the organization is used to keep the company's day-to-day operation instead...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/08/2023
The IRS has enforced new laws for taxpayers running a ranch or farm business. Although business can be overwhelming, the new laws have complicated it. Agriculture is a broad and uncertain...
Posted by Pat Raskob on 01/17/2023
Puerto Rico is partially part of the United States, making the laws different from the other 50 states. The US determines your tax by checking where you earn your income and residency...
Posted by Taxes Made EZ Inc on 12/08/2022
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 on 11/30/2022
GILTI stands for Global intangible low-tax income, which is income earned from other countries by U.S-controlled foreign corporations (CFCs), and it undergoes peripheral treatment...
Posted by Rosovich & Associates, Inc. on 11/10/2022
Caregivers do forfeit their jobs and employee benefits to perform a selfless act of caring for loved ones. However, there are benefits attached to the selfless act that is not known...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/30/2022
