TAXES! You may not enjoy getting those tax deductions, but you must understand how the system works to file correctly and avoid penalties. The AGI is a vital aspect of personal...
People that do not have health insurance in 2020 will not be subjected to a penalty. Taxpayers need not report their health insurance on their return except either you or a member...
If you are contemplating going with a reverse mortgage or HECM loan, it is imperative to research this unique retirement option's financial impact. A reverse mortgage allows you...
One of the ways to significantly reduce your business income tax is the business use of a vehicle. It is an important entity that you can use to bring down your tax for two reasons: The...
Also known as BEAT, Base Erosion and Anti-Abuse Tax is one of the reforms from TCJA (Tax Cuts and Job Act) that apply to some firms who offer "base erosion payments" paid...
One of the ways insurance companies estimate their reserve is via the expected loss ratio method. This is a technique they use to estimate the earned premiums. Whenever the insurer...
The IRS, in conjunction with the Treasury Department, has released final regulations containing changes from the TCJA (2017). With these rules, taxpayers can determine discounted unpaid...
The lawn care business is a challenging and interesting one. Operating this business is undoubtedly fun, but it comes with its share of issues, challenges, and uncertainty. However,...
Also known as unemployment benefits, unemployment insurance is a type of insurance provided by the state. It provides pay-outs to those who lost their job and meet certain eligibility...
Posted by Unifirst Financial & Tax Consultants on 06/22/2020