The Tax Cuts and Jobs Act of 2017 has some features that are not beneficial for couples. However, the law is unpleasant and an additional tax burden for couples compared to single...
Posted by Abundant Wealth Planning LLC on 11/30/2022
According to Uncle Sam, taxpayers who owe additional federal taxes should do a paycheck checkup to avoid unnecessary extra levies. The Tax Cuts and Jobs Act passage made some major...
Posted by Tiffany Gaskin on 11/30/2022
Every taxpayer could prefer living tax-free. Unfortunately, the tax system is made more challenging by emerging tax laws. These laws create tons of questions, leaving taxpayers overwhelmed...
Posted by Abundant Wealth Planning LLC on 11/28/2022
The retirement account is no place to hide money from taxes because eventually, the IRS will come for their even share. RMDs stands for a required minimum distribution (RMD), which...
Posted by Pat Raskob on 11/28/2022
Partnerships should use Schedule K-1 tax forms to distinguish partnership income from owners' income. By doing this, your business will more likely avoid the $54,171 tax penalties...
Posted by Taxes Made EZ Inc on 11/17/2022
In 2020, the I.R.S. processed over 3.5 million compliance activities. These activities occur when the I.R.S. thinks something is wrong with a tax return. They include:Automated under...
Posted by Abundant Wealth Planning LLC on 11/17/2022
The gig economy applies to people ranging from freelance consultants to Uber drivers or full-time employees who do a side hustle. The tax returns are different whether you're paid...
Posted by KLSM CPA Firm PLLC on 10/30/2022
There are specific organizations that provide tax benefits to their donors. For example, the Internal Revenue Code provides tax incentives to people donating to organizations like...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/26/2022
Small businesses usually run into problems because of the IRS Trust fund. The money held by the employer in trust is used to pay the employee’s Social Security and Medical taxes....
Posted by KLSM CPA Firm PLLC on 10/26/2022
