Children who learn to save from an early age have a huge advantage over their peers when they learn how to manage their money. But this does not happen automatically. Parents and guardians...
Posted by KLSM CPA Firm PLLC on 09/30/2022
Most people don't understand the late-filing penalties associated with Form 5500 (including 5500-EZ and 5500-SF). Why should they?But once you file late (or do not file at...
Posted by KLSM CPA Firm PLLC on 09/27/2022
This guide will tell you everything you need to know about 1035 exchanges: how they work, the different types, and how to assess whether a 1035 exchange is right for you.What is a...
Posted by KLSM CPA Firm PLLC on 09/19/2022
As taxes are concerned, individual taxpayers, service providers, and organizations are privileged to know about the Earned Income Tax Credit (EITC) and disability. The EITC has a significant...
Posted by KLSM CPA Firm PLLC on 09/10/2022
What is the Home Office Deduction, and who is eligible?The home office deduction is a tax deduction available if you own a business and use part of your home for your business. Your...
Posted by KLSM CPA Firm PLLC on 09/02/2022
Purchasing a home is often the most important financial decision of our lives, and for most of us, that means getting a mortgage. Mortgages can mean long-term borrowing at a relatively...
Posted by KLSM CPA Firm PLLC on 08/24/2022
Military spouse residency is common among military personnel. The tax law created the residency relief act to assist military spouses. You may be wondering what it is for and what...
Posted by KLSM CPA Firm PLLC on 08/11/2022
Understanding how to plan for retirement doesn't have to be difficult. The various available retirement plans are easier to comprehend than you might think, although each has its...
Posted by KLSM CPA Firm PLLC on 07/31/2022
The kiddies tax law started in 1986 to prevent parents from hiding taxable funds under their children's names. Parents were fond of transferring money to their kids' accounts...
Posted by KLSM CPA Firm PLLC on 07/18/2022
