A wealthy person needs accurate decisions to be able to continue growing in wealth and also have enough left to pass down to future generations. Unfortunately, statistics show that...
Posted by KLSM CPA Firm PLLC on 01/26/2023
How the Internal Revenue Service defines and calculates different types of income affects the taxes you owe. Modified adjusted gross income (MAGI) is one of them. MAGI also decides...
Posted by Pat Raskob on 08/11/2022
What is a foreign tax credit?A foreign tax credit is a United States tax credit that is used to offset income tax paid abroad. United States citizens and resident aliens who pay income...
Posted by Rosovich & Associates, Inc. on 05/31/2022
As an expat, you are constantly reminded that you must file a federal tax return each year to comply with the IRS. However, an equally important requirement for some expats can easily...
Posted by Tiffany Gaskin on 04/24/2022
Why is it important to know the taxpayer's source of income? This is important because the Foreign Tax Credit (FTC) can only offset U.S. taxes on foreign income. An American is...
Posted by Tiffany Gaskin on 08/15/2021
As a business owner, paying your estimated taxes quarterly assures you that there will be no significant tax bill waiting for you in April.You have to pay taxes, but luckily the Internal...
Posted by Rosovich & Associates, Inc. on 07/16/2021
The EITC is an important tax credit directed at millions of families across the US. It is one of the most substantial tax credits, making it important for people to access the credit...
Posted by Pat Raskob on 06/18/2021
You might think that the only time there would be taxes on an IRA or other type of retirement account would be when you make withdrawals or distributions. However, some income received...
Posted by Taxes Made EZ Inc on 06/06/2021
When setting up a business venture, you've got to think about various things to get done, and your taxes are at the top of the list. You must carry out proper research at the initial...
Posted by CORE PERFORMANCE on 09/30/2021
