The kiddie tax law was enacted in 1986. It was created to treat issues relating to unearned income tax for 18 years or below people. The scheme was also made available for dependent...
Posted by Pat Raskob on 01/09/2022
While tax season 2022 might be a few months away, the new year will be here before you know it. The fourth quarter is the time to do proactive tax planning to lower the 2021 tax bill....
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
A flexible spending account (FSA) is a healthcare benefit account sponsored by the employer, which allows them to set aside $2,7750 every year to take care of the cost for medical...
There is no dodging of social security taxes for many people for their employment and self-employment taxes. However, there are exceptions to these groups of people.You cannot dodge...
Posted by Karen Munoz, EA on 11/30/2021
Every taxpayer needs to ensure they get all the credits and deductions that they qualify for, as this is the only way to legally reduce your tax bill. Uncle Sam does not care...
Posted by Karen Munoz, EA on 09/26/2021
The days in which one is limited to a single source of income are over. Many people can now monetize their skills and make money in their free time. The gig economy is increasing rapidly,...
Posted by CORE PERFORMANCE on 06/11/2021
There are cases in which some people will be able to get rid of all or part of their student loans using a forgiveness plan targeted at student loans. This removes the burden of dealing...
A flexible spending account, or FSA, is a pre-tax expense account that many employers offer for employees' benefit. These bills allow you to pay necessary expenses without paying...