Constructive receipt for income refers to the first time the monies are available to the taxpayer. The assessment of taxes are based on the constructive receipt date regardless of...
If you have hired a gardener, nanny, cleaner, or other types of worker for household work, the law requires you to pay state and federal payroll taxes. This article sheds light on...
The regulations prohibit certain N.R.C. (Nuclear Regulatory Commission) employees and their spouses and minor children from holding securities issued by entities appearing on the most...
Following the highly successful offshore voluntary disclosure program's closure at the end of 2018, the IRS updated its previous voluntary disclosure program. In April 2020, it...
It is a common saying that there is nothing as certain as death and taxes. However, the issue with taxes is the inconsistency and the complication. Also, tax is not as old as human...
From the title, you can tell that worthless securities are just what they are: worthless, insignificant, and meaningless. These are securities with ZERO market value and may include...
Uncle Sam knows that many taxpayers are trying to limit or completely get rid of their federal income tax. They do this by claiming that all forms of compensation and funds received...
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Many people decide to have financial freedom during retirement. It might also be a good idea to take part in the 401(k) plan sponsored by the employer. This is true when you consider...
Posted by KLSM CPA Firm PLLC on 02/28/2021