After winning a lawsuit or getting a settlement, many people are surprised that they have to pay taxes on what they win. Some people don't realize this until they receive Form...
Posted by Pat Raskob on 12/27/2022
Dealing with a health crisis can be very challenging as it takes a toll on not just your physical but your mental health, and it can be costly. Regarding taxes, medical expenses are...
Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
Deployed service members must submit their taxes. Fortunately, the Internal Revenue Service realizes that the service members and their families face unique circumstances and offer...
There are a series of tax breaks and deductions you can claim if disabled and with this, you get to significantly reduce your income tax and even have a robust tax refund. The...
When two parties agree on something concerning a case, they settle. In this case, the defendant will pay an agreed sum of money to the plaintiff. The plaintiff, in many cases, could...
What is a combat zone?A combat zone is designated as a war zone for a specified period with the aim of reporting to the Internal Revenue Service by military personnel. While serving...
In general, any form of military payment obtained while deployed to a combat zone is excluded from federal income tax. This translates into significant tax savings for the active combat...
Leaving the winning side of a lawsuit as a plaintiff can be a rewarding feeling, especially if it's a financial deal. There will likely be a sense of relief and demand. Unfortunately,...
Posted by Elliot Kravitz, ATP on 04/20/2020