Income tax is paid on earned income, interest, dividends, royalties, or self-employment in the form of services, money, or goods. Capital gains tax is paid on income from the sale...
Posted by KLSM CPA Firm PLLC on 04/17/2022
There exist two kinds of dividends, qualified and ordinary dividends. Ordinary dividends are taxed at the income tax rate, and qualified dividends are taxed at a lower special rate.As...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 08/24/2021
Young families should make these changes throughout the year to keep their taxes low. Here are the areas you should be looking to save:Give yourself a raise.If you received a huge...
Posted by Income Taxes and Bookkeeping LLC on 08/06/2021
Investing in funds is not yet common among most new investors. Many retail investors turn to stocks and fixed deposits to start investing in. In this article, we'll examine which...
From the title, you can tell that worthless securities are just what they are: worthless, insignificant, and meaningless. These are securities with ZERO market value and may include...
When you find yourself as the beneficiary of an Individual Retirement Account (IRA) and the IRA owner passes away, you are told that you have received a tax-free inheritance. Well,...
A type of fringe benefit offered to employees of a certain business is an employee stock purchase plan (ESPP). The business allows the employees’ option to purchase the company’s...
Traders can enjoy significant tax savings and here are some rules that the IRS checks before qualifying traders.Hours: It would help if you spent at least four hours per day trading...
It is critical to understand these dividends as your approach will significantly affect your taxes, and ultimately the ROI, return of your investment. The ultimate goal of all investors...