Sports gambling has grown into a significant industry, with millions engaging in betting activities yearly. With the legalization of sports betting in several states and the expansion...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 08/11/2023
Any mistake on a tax return equals money, hard-end money. Either you are losing it by paying taxes, interest, and penalties or getting a fat refund. In addition to the former, you...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/09/2023
Charitable contribution deductions are a type of tax deduction that allows individuals and businesses to deduct the amount of money they donate to a qualified charitable organization....
Posted by Pat Raskob on 02/17/2023
A charitable gift annuity is a contract between a charity and a donor bound by some terms explained below:The donor makes a considerable gift to the charity via cash, security or other...
Posted by Rosovich & Associates, Inc. on 08/24/2021
The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
Depreciation is negative. It is like something losing value. In the tax world, however, depreciation can translate to considerable tax savings. Depreciation means deducting the...
Every taxpayer needs to ensure they get all the credits and deductions that they qualify for, as this is the only way to legally reduce your tax bill. Uncle Sam does not care...
Posted by Karen Munoz, EA on 09/26/2021
State laws generally govern the gaming industry. These laws can be very or less strict, depending on how the state views the industry, and most laws are aimed at promoting responsible...
What is barter?Barter is an act of exchanging goods or services between two or more parties, sometimes more without using a monetary medium, such as physical cash or credit card. Essentially,...