Many people are less concerned about whether they owe gift taxes or not. A gift tax return is a Federal Government tax return often filed with certain terms and conditions by the gift's...
Posted by Rosovich & Associates, Inc. on 04/29/2021
Even after you file your taxes, phony IRS calls and other nasty scams will still intensify.You must have already filed taxes because the IRS has been accepting returns since February...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 04/26/2021
The gross estate's value must be determined to know if an estate tax is paid and how much it will cost. Subtitle B, Title 11, Subchapter A, Part III of the Internal Revenue Code...
Posted by The TaxAdvocate Group, LLC on 04/26/2021
Community property is a type of joint ownership of property between couples. With some variation between states, all property acquired or purchased by a couple during the marriage...
Posted by Flynn Financial Group Inc on 03/16/2021
What are itemized deductions?Itemized deductions are a list of expenses that you can use to reduce taxable income on your federal income tax return. These include medical bills, taxes,...
First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
Posted by CORE PERFORMANCE on 02/28/2021
In 2017, the wealth tax cap was $5.49 million. In 2018, the limit doubled to $11.18 million and now stands at $11.7 million. Currently, this growth will expire in 2025, but with the...
Posted by Pat Raskob on 02/10/2021
In making some taxable gifts above a certain threshold, one will be subjected to a federal gift and estate tax. For the 2020 tax year, an individual can give away $11.59 million during...
Posted by The TaxAdvocate Group, LLC on 02/09/2021
Due to the global pandemic and related restrictions, donations to charities are needed more than ever. And with a charitable tax deduction, your magnanimity will be rewarded.Charitable...
