The Federal Insurance Contributions Act (FICA) tax is a federal payroll tax imposed on employees and employers to fund Social Security and Medicare programs. FICA tax is a critical...
Posted by Pat Raskob on 03/14/2023
Every taxpayer needs the means to lower their taxes. Both individuals and business owners look for ways to save each dollar in taxes. Although the government initiated the Tax Cuts...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/01/2023
The IRS allows taxpayers to deduct medical expenses used by themselves, their spouses, or someone claiming them as a dependent. Although tax returns do not accept medical deductions...
Posted by Pat Raskob on 01/26/2023
Paying for college is a hurdle for many American families.According to the Department of Education's National Center for Education Statistics, the average in-state undergraduate...
Posted by Rosovich & Associates, Inc. on 12/31/2022
A separate tax file gives each spouse the responsibility of paying their taxes. Married couples can decide to pay their taxes separately to avoid the penalties of filing jointly. The...
Posted by Tiffany Gaskin on 12/18/2022
It is no surprise that paying someone to watch your kids or clean your property makes you an employer, and you have to do the employer donation. Those hired to do these jobs are considered...
Posted by Rosovich & Associates, Inc. on 11/30/2022
You may have considered a custodial account if you want more flexibility regarding how your child's education funds are allocated. That way, the money doesn't have to be used...
Posted by Rosovich & Associates, Inc. on 11/28/2022
College funding is increasing every year, and other methods to subsidize the fees have made no significant difference. The rise in fees is more than the rate of inflation, which stands...
Posted by Tiffany Gaskin on 11/10/2022
The world has shifted to enticing kids with trends, fashion, gadgets, and the tastiest treats. But as parents, we still need to inculcate money talks with our kids. How can mums and...
Posted by Rosovich & Associates, Inc. on 10/30/2022
