The federal-level collects taxes from Social Security income while the income level determines whether or not there is a need for a tax on the benefits. Those with the 401(k) or other...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/27/2022
The student loan is usually the go-to option when they face challenges. Both parents, guardians, and students rely on this loan in a hard time, not knowing the ups and downs of the...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/10/2022
Married couples can file federal income tax returns jointly or separately. The IRS encourages couples to file joint tax returns, extending several tax breaks to those who file jointly....
Posted by Abundant Wealth Planning LLC on 09/10/2022
The Federal Opportunity Zone is for poor communities with a future under certain conditions, including the opportunity for new investments that can tap into some tax benefits. A community...
Posted by Pat Raskob on 09/10/2022
On November 2, 2015, President Obama signed the Bipartisan Budget Act (B.B.A.) of 2015, which included a new federal audit regime for businesses and entities classified as a partnership...
Posted by Dennis Jao on 09/10/2022
There are narrow differences between what is considered an IRA rollover and an IRA transfer. Important to know: For the transfer to be tax-free, funds must be deposited into the new...
Posted by Abundant Wealth Planning LLC on 09/03/2022
The state of singlehood also affects your tax filing from the IRS. There are many filing status like single, jointly, divorced, head of household, and a qualifying widow(er) with a...
Posted by Pat Raskob on 08/24/2022
Federal tax returns are required to file the FAFSA (Free Application For Federal Student Aid). The federal government uses the information on the tax return to investigate a family's...
Posted by Abundant Wealth Planning LLC on 07/31/2022
The rules for filing alimony income on your tax return changed with the 2019 fiscal year. Alimony income or payments are no longer tax-deductible, and the receipt of alimony is not...
Posted by KLSM CPA Firm PLLC on 07/09/2022
