All workers and employers in the service industries where tips occur should abide by the relevant tax rules. One needs to pay income tax, Medicare tax, and Social security taxes on...
Posted by Jim McClaflin, EA, NTPI Fellow on 04/09/2021
It's the start of the 2021 tax season, and you can't wait to get started. Gather your documents for the 2020 tax year and complete federal and state taxes before the filing...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 04/08/2021
There is no known trick or formula developed to dodge payment of taxes to Uncle Sam, and if you want to avoid the headache of an audit, you have to get it right. Employees enjoy the...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 03/31/2021
Fringe benefits can be defined as a type of payment offered for the rendering of services. An example is when the workers are served a meal at lunch during work. This, however,...
Posted by Thomas G Kinsella, ATP on 03/16/2021
State laws generally govern the gaming industry. These laws can be very or less strict, depending on how the state views the industry, and most laws are aimed at promoting responsible...
Posted by Flynn Financial Group Inc on 03/05/2021
The HEART (Heroes Earnings Assistance and Relief Tax Act 2008) Acts provides tax and retirement benefits for service members who are disabled while on active service for more than...
Posted by KLSM CPA Firm PLLC on 02/23/2021
One might spend a lot of income on medical bills, especially when unplanned emergencies arise and the insurance cannot cover it all. The bright side is that one can have some relief...
Posted by Accurate Books And Tax on 02/22/2021
There are some processes involved in filing an amended tax return with Uncle Sam. One needs to fill form 1040X and submit it to the IRS. Understanding the tax code is a pretty complicated...
Posted by Taxes Made EZ Inc on 01/07/2021
Caregivers, workers who perform in-home services, for disabled individuals and the elderly work under special tax rules. When a caregiver is employed, it is seen that he/she works...
Posted by Dennis Jao on 09/28/2020
