In the world of taxation, the concept of constructive receipt and substantial limitation is crucial in determining the timing of income recognition. Constructive receipt refers to...
Posted by Taxes Made EZ Inc on 05/08/2023
The tax situation is an overwhelming condition for self-employed individuals. Many could be unsure of the rules, options, financial obligations, and how to handle the situation. In...
Posted by Pat Raskob on 04/21/2023
As a taxpayer, you may wonder how much the IRS makes from your income. You may have a rough idea of what is withheld from your paycheck but have yet to learn the term effective tax...
Posted by Tiffany Gaskin on 04/09/2023
Income can be categorized into two main categories: taxable and non-taxable. Taxable income refers to the amount of money earned that is subject to income tax by the IRS. On the other...
Posted by KLSM CPA Firm PLLC on 03/08/2023
Student loan wage garnishment is a legal process in which a portion of a borrower's salary is deducted directly from their paycheck to repay defaulted student loans. This can significantly...
Posted by Dennis Jao on 02/22/2023
Unemployment insurance is a government program that provides financial support to workers who have lost their jobs through no fault of their own. It is designed to help individuals...
Posted by Dennis Jao on 02/17/2023
A defined benefit plan, more commonly known as a pension plan, provides guaranteed retirement benefits to employees. Defined benefit plans are primarily funded by the employer, with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/26/2023
Self-employment tax is the largest tax burden for members of the clergy (pastors, priests, ministers, bishops, missionaries, etc.). In this article, you'll learn what self-employment...
Posted by Taxes Made EZ Inc on 01/09/2023
IRS Form W-4 informs your employer how much income tax to withhold from your pay. You will need to complete one when you start a new job. You can also send a new W-4 to the human resources...
Posted by KLSM CPA Firm PLLC on 01/09/2023
