The Internal Revenue Service (IRS) changes certain tax provisions each year to deal with inflation. The idea is to prevent taxpayers from losing more tax exemptions because they could...
Posted by Unifirst Financial & Tax Consultants on 01/01/2022
The tax season can be incredibly overwhelming for all, especially when you need help with your taxes. However, Uncle Sam can guide you through the essential things you need to know....
Posted by Pat Raskob on 12/27/2021
Don't worry about gift tax if you've recently received a sizable gift from your mom and dad. The IRS generally holds the donor responsible for taxes. Except the person is donating...
Posted by Income Taxes and Bookkeeping LLC on 11/11/2021
The number of unmarried couples who have lived together has increased over the years. While living with your partner might seem like a great way to cut costs, have you thought about...
Posted by Abundant Wealth Planning LLC on 10/19/2021
Whenever you see a dollar from a lottery win, please remember that the IRS has taken its 25%. Up to 13% can be withheld in local and state taxes (depending on where you live). However,...
Posted by Pat Raskob on 09/30/2021
Parents who want their kids to learn proper money management skills must have access to some money. Most gifts are limited in terms of their usefulness because toys will break, or...
Posted by Tiffany Gaskin on 09/26/2021
The idea behind getting life insurance for many people is for their heirs to have enough sustenance and provision after their death. Many people desire for their family members to...
Posted by Karen Munoz, EA on 08/24/2021
The White House and Treasury released the first details of the Biden administration's 2021 tax reform proposal, a major focus in Washington, DC. Tax code changes are expected in...
Posted by Tiffany Gaskin on 07/16/2021
For federal tax purposes, inheritance is not classified as income, no matter what you inherited – cash, property, or investment. However, whatever you earn on such an inherited...
Posted by Pat Raskob on 07/06/2021
