The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Posted by Rosovich & Associates, Inc. on 01/13/2021
Uncle Sam is not alien to the stress and predicament that comes with living and moving abroad. One cannot compare the cost of living, and in a bid not to discourage Americans who would...
Posted by Unifirst Financial & Tax Consultants on 01/13/2021
Some profound tax changes came around in Jan 2018 with the passing of the Tax Cuts and Jobs Act (TCJA). As a result of this law, the personal exemption was suspended till 2025. It...
Posted by Income Taxes and Bookkeeping LLC on 01/12/2021
Nontaxable Income One needs to know which income will not be subjected to taxes. Taxes should only come from taxable income, making it essential to remove nontaxable income from...
Posted by Daniel P Vigilante CPA and Profit Consultants on 01/07/2021
Net interest income can be referred to as a financial performance that shows the difference between the revenue from the interest-bearing assets of a bank alongside the expenses that...
Posted by Stevenson Tax and Accounting, Inc. on 01/07/2021
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Posted by Schneiderman and Friedman on 12/28/2020
Uncle Sam defines passive activities as a business venture you are not actively involved in. For the purpose of tax, income can be grouped into two categories according to the IRS...
Posted by Abundant Wealth Planning LLC on 12/26/2020
Supplemental Security Income is a program by the Federal government to provide extra income for disabled and seniors in the United States who have little or no income. With this program,...
Posted by Daniel P Vigilante CPA and Profit Consultants on 12/26/2020
For people in the line of work where they receive tips typically, money is an essential part of their income. The internal Revenue Service, however, makes it compulsory that tip...
