On September 1, 2020, the IRS updated its procedures regarding the application of IRC Section 7502, timely remittance treated as timely filing, and payment of electronically arched...
Posted by Daniel P Vigilante CPA and Profit Consultants on 10/16/2020
Due to the Affordable Care Act (ACA), millions of Americans are entitled to a premium tax credit that helps pay for health coverage. This question and answer explain who qualifies...
Posted by Abundant Wealth Planning LLC on 10/15/2020
A withholding tax is an amount that an employer takes from its employees' wages and pays it directly to the government. The amount withheld is an income tax credit that the employee...
Posted by Abundant Wealth Planning LLC on 10/01/2020
The Roth IRA is a self retirement account in which money grows tax-free, and withdrawals during retirement are tax-free.Individuals who are at least fifty-nine and a half years old...
Posted by Daniel P Vigilante CPA and Profit Consultants on 10/01/2020
There are many different expenses that small businesses are allowed to deduct on their annual tax returns. These deductions vary from business to business; however, the standard deductions...
Posted by Abundant Wealth Planning LLC on 09/28/2020
We live in a globalized world, which means that more U.S. alien residents and citizens are taking their money overseas for banking and investment purposes. While owning a foreign account...
Posted by Daniel P Vigilante CPA and Profit Consultants on 09/28/2020
There are times a taxpayer might owe a debt. This gives the IRS the power to seize their tax refunds. There are many forms of such debts that a taxpayer might owe. As a result, a couple...
Getting your taxable income is not a straightforward process. You have to sum all your income from various sources and remove your allowable deductions. For people that want to avoid...
Posted by Abundant Wealth Planning LLC on 09/18/2020
Interest income is the entire amount of interest that an amount generates in a given period. This amount can be likened to the investment balance used to calculate the return on investment...
Posted by Daniel P Vigilante CPA and Profit Consultants on 09/18/2020
