Going through the joint filing route with your spouse might qualify you for a high standard deduction and bring down your tax bill. You might also get tax benefits that couples going...
Posted by Aurelia E Weems CPA on 06/06/2021
The marriage tax penalties come into play when the taxes paid for joint filing is more than what you would have paid if both parties filed as single. Before the 2017 TCJA, some...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 05/24/2021
A couple of years ago, Uncle Sam reached out to four private companies for assistance in debt collection. The implication of this is that any of these four companies could come after...
Posted by Income Taxes and Bookkeeping LLC on 05/24/2021
By understanding the separation of liabilities, the Internal Revenue Service (IRS) separates the tax liability between you and your ex-spouse or spouse. This includes penalties and...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 05/19/2021
Divorced people might qualify for Social Security benefits which is a factor of the earning of the ex-partner. This article will shed light on qualification for such benefits and what...
Posted by Pat Raskob on 05/19/2021
A joint tax filing return makes both parties responsible for the tax bill. It removes the need to foot additional tax debt with an innocent spouse relief if your partner or ex-partner...
Posted by CORE PERFORMANCE on 05/06/2021
One of the most critical stages in the life of a human is retirement. With the life expectancy of typical humans increasing, it is essential to make an adequate retirement plan.While...
Posted by Tiffany Gaskin on 05/06/2021
Employee expenses are no longer deductible. Nevertheless, if the employer reimburses the employee under an accountable plan, the reimbursements should not be reported as income by...
Posted by Income Taxes and Bookkeeping LLC on 04/06/2021
There is no magic formula to determine the amount of life insurance you will need. However, you can make a reasonable estimate if you consider your present financial situation and...
Posted by Rosovich & Associates, Inc. on 03/30/2021
