First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
Posted by CORE PERFORMANCE on 02/28/2021
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...
Posted by Elliot Kravitz, ATP on 02/23/2021
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
There is vital tax information for the U.S. Armed Forces reserve component that deals with tax breaks and deductions for expenses they incur while in active service. The following...
Posted by Unifirst Financial & Tax Consultants on 12/18/2020
Many U.S. businesses will face the threat of increased exposure to unclaimed property in 2021 as states and private parties step up audits, litigation, and legislative changes aimed...
Posted by One Stop Taxes on 02/23/2021
According to Uncle Sam, miscellaneous expenses are write-offs that cannot be classified into any tax category. Examples are work uniform, clothes, work, equipment, boots, alongside...
Posted by Cypress Tax Solutions on 01/19/2021
Parents typically open custodial accounts if they want their children to save and invest because children in most states are not legally allowed to own financial assets. UTMA is one...
Posted by Advanced Accounting & Tax Planning on 01/19/2020
What is the law on the uniform transfer to minors act (UTMA)?The Uniform Transfer to Minors Act (UTMA) is an extension of the Uniform Gifts to Minors Acts (UGMA), which allows people...
Posted by John Pournaras Agency on 01/02/2020
The members of the armed forces and their families face many challenges and that include filing taxes with the IRS. American military personnel, whether on active duty or reserve service,...
Posted by Advantage Tax Service on 11/14/2018
