The nation owes a debt of gratitude to veterans, yet sometimes these heroes come back home and pay huge taxes, which places a significant burden on them. This realization led to a...
Companies can reward their financial investors by paying dividends to shareholders. Certain dividend income may benefit from special tax treatment per the applicable tax code. This...
Qualified pension plans have many tax advantages but some disadvantages for employers and highly compensated employees (HCEs) or entrepreneurs. For companies, qualified pension plans...
Posted by Daniel P Vigilante CPA and Profit Consultants on 02/23/2021
Uncle Sam gives taxpayers the allowance to reduce their tax bill with a credit for adoption expenses that qualifies provided one meets some qualification requirements. Form 8839...
It can be an overwhelming thought if you don't know what share of your care insurance policy (Long term) will go to Uncle Sam. This post will shed light on the operation...
In accordance with the TCJA, significant changes have been made to the child tax credit. These changes affect fiscal years 2020 and 2021 and beyond. This article will cover all the...
A qualified tuition program, also known as section 529 plans, is an impressive way to prepare to take care of your college finances. What is a Qualified Tuition Program?A qualified...
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
If you buy an annuity in pre-tax dollars, the annuity payments will be fully taxed as income. If you purchase an annuity with after-tax funds, you only have to pay income tax. Annuities...