Inheritance tax is the cost basis calculation for inherited assets against taxes owed to the state. That being said, most estates are simply too small to be charged the federal estate...
It is common for someone to live in one state and have employment in another state. In this case, one might need to file a nonresident tax return if they have earnings in a state they...
Sales taxes are one of the common direct ways to collect tax revenue. Although graduated income tax brackets and rates are complex and confusing for many taxpayers, sales taxes are...
The Taxpayer Advocacy Panel is a Federal Advisory Committee to the Internal Revenue Service (IRS). If you’re a taxpayer and you have important issues that need to be identified...
Gasoline taxes are often considered as integrated "user fees" for the payment of the construction and repair of American roads, bridges, and highways. While the cost of gasoline...
Posted by Advanced Accounting & Tax Planning on 11/25/2019
The total spending for K-12 schools and college reached $82.8 billion in 2018, nearly as high as 2017’s $83.6 billion, that’s according to the National Retail Federation’s...
Why is Viagra not taxed but tampons are?A very catchy phrase that refers to state sales taxes that applied to menstrual products including pads and cups and the biggest question to...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 08/23/2019
Social security is an essential earning source for most retirees - and if you live in some areas in the U.S., your state won't charge you on it. Notwithstanding, the national...
Posted by YourIRSTaxAdvocate.com on 03/08/2019
By and large, debt that is canceled or forgiven by a moneylender is viewed as taxable earnings by the IRS and must be incorporated as salary on your return form. Instances include...
Posted by ERICHSEN KALLSEN & ASSOCIATES CPAS LLP on 03/08/2019