www.taxprofessionals.com - TaxProfessionals.com

Jim McClaflin, EA, NTPI Fellow, CTRC

Tax Preparer
Owner at Accounting & Tax Professionals PLC
Grimes Iowa 50111

515-986-5843 Click to dial

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Individual
First Name
Jim
Last Name
McClaflin, EA, NTPI Fellow, CTRC
Company Name
Accounting & Tax Professionals PLC
Your Position
Owner
Best Describes You
Tax Preparer
Phone Number
515-986-5843
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Where Are You Located?

Address Line 1
270 W 1st St, Suite K
City
Grimes
State
Iowa
Country
United States
Postal Code
50111

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Hours of Operation
Tax Season: 9am - 8pm Monday thru Thursday
9am - 5pm Friday
9am - 3pm Saturday
Closed Sunday

Off Season: 9am - 4pm Monday thru Thursday
9am - 1pm Friday
Other times by appointment
Accepted Forms of Payments
Cash, Check, Credit Card
Credentials
Enrolled Agent
Fellow, National Tax Practice Institute
Certified Tax Representation Consultant

About Jim McClaflin, EA, NTPI Fellow, CTRC

As an Enrolled Agent I provide personalized and professional tax preparation, tax consultation and representation of taxpayers before the IRS. Whether your needs are to have this year’s tax return completed or you have significant tax issues with the IRS I can help you.

In addition to being an Enrolled Agent I am a Fellow of the National Tax Practice Institute and a Certified Tax Representation Consultant and am Past President of the Iowa Society of Enrolled Agents.

An Enrolled Agent is licensed by the IRS to represent taxpayers before the IRS in all tax matters.

Jim McClaflin, EA, NTPI Fellow, CTRC Member Articles


Bitcoin Surges: What to Expect and How to Avoid a Great Loss

The rise of Bitcoin and other cryptocurrencies has captivated the financial world in recent years. Bitcoin, in particular, has seen remarkable surges in value, attracting both seasoned...


Advantages & Disadvantages of Tax Refund Advances

Tax refund advances, also known as tax refund anticipation loans or refund anticipation checks, are financial products offered by various tax preparation companies and financial institutions...


Planning Well Ahead for Retirement: A Comprehensive Guide to IRS Tax Strategies

Planning for retirement is a crucial aspect of financial well-being, and the Internal Revenue Service (IRS) offers various tax-advantaged strategies to help individuals save and invest...


Understanding Tax Liens and How to Respond

Tax liens are a common issue faced by taxpayers in the United States. If you owe back taxes to the Internal Revenue Service (IRS) or state tax authorities, they may place a tax lien...


Everything You Need to Know About Tax-Loss Harvesting

Tax-loss harvesting is a strategic technique that savvy investors use to minimize their tax liabilities while optimizing their investment portfolios. By deliberately selling investments...


Factors to Help You Prove Your Domicile for IRS Tax Purposes

Establishing your domicile is a critical aspect of your tax status. Domicile refers to the place where you have your true, permanent home, and it plays a significant role in determining...


The 5 Biggest Money Mistakes Retirees Make: A Comprehensive Guide to Avoiding IRS Tax Pitfalls

Retirement is often viewed as a time of financial security and relaxation, but it can also be a period filled with potential tax-related pitfalls. Many retirees find themselves facing...


Dividends the IRS Can't Touch: Understanding Tax-Free Dividend Income

Dividend income is a source of financial growth and stability for many investors. While the Internal Revenue Service (IRS) typically taxes dividend income, certain types of dividends...


The Definitive Guide: Reasons Why You Need a Trust in Your Estate Planning

Estate planning is a vital component of financial management, ensuring that your assets are protected, your wishes are honored, and your loved ones are taken care of when you can no...


Understanding the Wayfair Decision & Its Impact on Entrepreneurs

In June 2018, the United States Supreme Court issued a landmark decision in the case of South Dakota v. Wayfair, Inc., fundamentally altering the landscape of sales tax collection...


IRS Trust Administration: A Comprehensive Guide

Trusts are powerful financial tools that enable individuals to manage and distribute their assets according to their wishes while potentially minimizing estate taxes and probate processes....


Effective Ways To Avoid An IRS Matching Notice

Taxes can be a confusing topic, and dealing with the IRS (Internal Revenue Service) can be intimidating for just about everyone. The last thing you want to receive is an IRS matching...


How To Acquire Capital Gains

Capital gains are an important part of investing, as they offer an opportunity for wealth accumulation beyond simple dividends. Understanding how to acquire capital gains requires...


The 7 Best Tax-Free Investments to Grow Your Wealth

Tax-free investments are a cornerstone of a well-rounded financial portfolio, allowing investors to grow their wealth while minimizing the impact of taxes. These investments provide...


Understanding LLCs & Their Tax Obligations: A Comprehensive Guide

Limited Liability Companies (LLCs) have become increasingly popular among entrepreneurs and small business owners due to their flexibility and liability protection. One crucial aspect...


Understanding Sports Gambling & Taxes: Navigating Your Tax Obligations

Sports gambling has grown into a significant industry, with millions engaging in betting activities yearly. With the legalization of sports betting in several states and the expansion...


Tax Tips For A Small International Business

If you run a small international business based in the United States, navigating the U.S. tax system can be quite complicated. Here are some tax tips to help you manage your tax obligations...


Why apply for the IRS voluntary Disclosure Program

Taxpayers have the opportunity to come forward and voluntarily address their tax noncompliance through the IRS Voluntary Disclosure Program. This article examines the advantages of...


Understanding Universal Life Insurance & Its Tax Implications

In life insurance, universal life insurance stands out as a versatile and flexible policy that provides both a death benefit and a cash value component. Unlike term life insurance,...


Inheritance and Tax Basis Rules

Inheritance tax is the cost basis calculation for inherited assets against taxes owed to the state. That being said, most estates are simply too small to be charged the federal estate...


Vital Tax Tips for Farmers: Maximizing Benefits & Compliance

As the backbone of our agricultural industry, farmers play a crucial role in providing food and resources. Operating a farm involves various financial responsibilities, including taxes....


Do You Need an Accountant or a Tax Lawyer?

When dealing with complex tax matters, many individuals and businesses need clarification on whether they need the services of an accountant or a tax lawyer. Both professionals play...


Understanding Tax Annuities: Which Has the Lowest Tax?

When considering annuities, it is essential to understand the tax implications. Many people, however, might be surprised because the taxation of pensions differs. This article explores...


Understanding IRA Contribution Limits for 2022 vs. 2023

Individual Retirement Accounts (IRAs) offer individuals a valuable opportunity to save for retirement while enjoying certain tax benefits. However, it's crucial to stay informed...


How do Mortgage Interest Deductions Help Homeowners?

Buying a home is one of the most significant financial decisions most people make in their lifetime. Homeownership is often seen as a symbol of success and stability, but it also comes...


Municipal Bond Tax Traps to Watch Out For

 Local and state governments sell municipal bonds to investors to help fund public projects like repairing a public park or building a new school. While municipal bonds pay tax-free...


Filing Taxes When You're Deployed Military

Filing taxes is a necessary obligation that all citizens and residents of the United States must complete. This is also true for those serving in the military, including those deployed...


Retroactive Tax Legislation & Its Constitutionality

Retroactive tax legislation is an issue that has been debated for a long time in the United States. Retroactive taxation occurs when the government imposes a new tax law that applies...


Best Practices to do Payroll

Payroll is an essential part of any business, and it can be a challenging task, especially when it comes to managing taxes. Many business owners need help with payroll management,...


Property Tax Explained: Understanding the Basics & Recent Changes

Property taxes are one of the many types of taxes that property owners have to pay. These taxes are levied on real estate, including land, buildings, and other structures, and are...


Out-of-Pocket Charitable Contributions & Deducting Donated Services

Deducting your charitable contribution is tricky because of the changing laws in 2022 and 2023. The law allows taxpayers to deduct their generous contributions without going through...


Some Tax Filing Mistakes to Avoid

Any mistake on a tax return equals money, hard-end money. Either you are losing it by paying taxes, interest, and penalties or getting a fat refund. In addition to the former, you...


What are Tax Dependents: Important Things to Note

A tax dependent is someone with connections to you that permits some tax deductions and credits like the head of household, the child and dependent care credit, the child tax credit,...


What is the Fate of Cryptocurrency?

Many cryptocurrencies like Bitcoin and Ethereum rise and fall, raising tons of tax questions. The Internal Revenue Service (IRS) is implementing many laws for those holding cryptos,...


About Form 8949

Form 8949 is a tax form individuals use to report the sale or exchange of capital assets, such as stocks, bonds, mutual funds, and real estate. The form calculates and reports any...


Not-For-Profit Taxes: Understanding the Basis

There are not-for-profit organizations that do not earn a dime from their activities. The money made in the organization is used to keep the company's day-to-day operation instead...


Tips to Help Reduce the Amount You Pay for Taxes

Every taxpayer needs the means to lower their taxes. Both individuals and business owners look for ways to save each dollar in taxes. Although the government initiated the Tax Cuts...


Married Filing Taxes Separately: Explore the Pros & Cons

It is a really bad idea to file taxes at the last minute. The decision ahead will make the process faster. It is best to plan and take specific actions before tax filing. For example,...


What is Section 451?

The sixth day of January 2021 was the day the Treasury Department and Internal Revenue Service (IRS) decided to bring the IRC Section 451 regulation to a conclusion. However, the decision...


What to Know About Tax Liens & Levies

Liens and Levies are two different legal actions that the Internal Revenue Service (IRS) can take to collect outstanding tax debts from taxpayers. Understanding the difference between...


Should You Have a Real Estate Commission on a 1099?

Real agents help home buyers or sellers navigate the complex process of buying or selling a home. These professionals are licensed, experienced, and knowledgeable in finding homes,...


Understanding Defined Benefit Pension Plans

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...


Innocent Spouse Relief

Since couples can file their taxes jointly, some partners purposely neglect their tax duties which explains the reasons the innocent spouse relief law was enacted. The program is a...


How to Claim The Qualifying Business Income (QBI) Deduction

You may be eligible for the qualified business income deduction if you are a small business owner.The Qualified Business Income (QBI) deduction provides small business owners with...


How to Calculate Cryptocurrency Gains Step by Step

It's quite simple: to pay your tax bill, you need to know the number of your accumulated gains or losses. Below, we'll explain how to calculate your cryptocurrency gains, so...


Advantages of Having Your Taxes Filed Online

One of the things most people do not look forward to is the tax period and it is not surprising as filing taxes is complex with a series of forms, and mistakes could be costly. As...


What is a First-Time Homebuyer Credit & How Does it Work?

The first-time home buyer's tax credit was introduced during the 2008 financial crisis to help Americans buy more affordable homes. Although there are many other mortgage and loan...


Four Trusted Ways To Boost Your Tax Refund

Paying tax is not a feeling any taxpayer likes. Having your income after working for a month or having a personal savings slash is no joke. The anger has pushed most taxpayers into...


Claiming Casualty & Theft Losses on Your Tax Return

Virtually everyone has suffered a loss, whether it's an accident, which may be covered by accident insurance, or theft.Tornadoes, earthquakes, wildfires, hurricanes, and other...


How to Convert a Corporation to an LLC

The traditional process is slow and tedious if you want to convert your corporation to an LLC. But in many states, there is an easier and less expensive way.Although it doesn't...


Understanding Foreign Tax Credits

Taxpayers who have accrued or paid foreign income taxes in a U.S. possession or foreign country can generally deduct those taxes from their U.S. tax on foreign source income. The foreign...


Steps to Follow Before Tax Preparation

Tax preparers prepare more than 85 million tax returns, as observed by the Internal Revenue Service (IRS). However, those who boldly go DIY on their taxes should remember to keep a...


Five Ways to Get Paid as a Family Caregiver

Caregivers do forfeit their jobs and employee benefits to perform a selfless act of caring for loved ones. However, there are benefits attached to the selfless act that is not known...


Are Contributions to Nonprofit Schools Tax Deductible?

There are specific organizations that provide tax benefits to their donors. For example, the Internal Revenue Code provides tax incentives to people donating to organizations like...


Become Eligible for Trader Tax Status

One good thing about trading is that all you have to do to become a trader is get started. Many people trade as a hobby, while others trade full-time for a living, and some traders...


Tax Implications of Divorce

Handling divorce and everything that concerns the situation is never easy, so the tax implication will likely be the last thing on your mind. Divorce affects a person emotionally,...


Find Out if You Are Eligible For Saver's Credit & How to Apply

Saving for retirement takes effort and sacrifice, especially since most people will need to invest hundreds of thousands or even millions of dollars to provide enough income to supplement...


Is Social Security Income Taxable?

The federal-level collects taxes from Social Security income while the income level determines whether or not there is a need for a tax on the benefits. Those with the 401(k) or other...


The Taxpayers Advocacy Panel: What is it & Why is it Important?

Ever heard of the TAP? Well, you have nothing to worry about as you're not alone. What is TAP?TAP is a Federal Tax Advisory Committee to the IRS. The purpose of TAP is to...


Breaking Down Student Loan Interest Deduction

The student loan is usually the go-to option when they face challenges. Both parents, guardians, and students rely on this loan in a hard time, not knowing the ups and downs of the...


The Best Credit Card Options for Students

Students may want to start their credit journey with a new card. But being eligible for a traditional credit card can be difficult when you have limited income and bad credit history.This...


What is a Medical Power of Attorney (POA)?

With a medical power of attorney, you can appoint someone to make healthcare decisions if you cannot make those decisions yourself.Although much of estate planning focuses on finances,...


Are Political Contributions Tax-Deductible?

It is all about making headlines and advertisements to gain speed for a candidate or campaign team during election seasons. Politicians dedicate the money, effort, and time to a campaign....


Newlywed Advice in Uniting Your Financial Life Successfully

Marriage is a lifetime commitment in most regions. The responsibility affects your lifestyle, finance, and career. Having a joint savings or investment account can strengthen marriage...


Some Reasons Why it’s Good to File a Tax Extension

If you need additional time to file your taxes this year, the Internal Revenue Service allows you to make an extension. This gives you another six months to complete your return. And...


What it Takes to Own a Small Business

Hundreds of notable character and personality traits define you or your favorite successful small business owner. However, certain characteristics stand out when we compare the entrepreneurs...


Top 3 Best Investment Ideas For Beginners

Suppose you intend to invest but are still confused about how and what to invest; fear not. The goal is to walk you through the top three investment ideas as beginners. Investment...


Nonresident Alien Tax Status

Since nonresident and resident aliens are taxed differently, it is important to determine your status. You are considered a nonresident alien when you are not a U.S. citizen or a U.S....


How Long Should You Keep Your Tax Returns?

Keeping old tax records can save you time and effort if you are audited or need to file an amended tax return. Previous tax returns can also help you document your income when applying...


How to Teach Kids About Money at Every Stage of Their Young Lives

Do you want your children to do better financially than you? Do you want them to stick to a budget and invest in their future? Financial education is essential.A 2018 National Financial...


Innocent Spouse Rule

A spouse usually signs joint tax returns with the knowledge to face the due tax, penalties, and interest accompanying the tax return. According to the IRS (Internal Revenue Service),...


First Time Penalty Abatement: What It Is and Why You Should Care

Most tax practitioners are familiar with reasonable cause as the basis for penalty abatement. But many often overlook another important reason for penalty abatement: the so-called...


A Guide to Paying the Quarterly Taxes

Employees have their taxes withheld by their employers. So, how do the self-employed pay? The self-employed pay estimated taxes quarterly by due dates to the IRS. This way, they can...


2022 Estate & Gift Tax Exemption & Exclusion

The real estate planning world, the financial planning world, and parliamentarians considered several significant estates and gift tax changes at the end of 2021. The Biden administration...


What to Know About Putting Money in Your Pocket Earlier With Tax Refund Loans

What are tax refund loans?Most taxpayers know a lot about tax refunds. However, very few know about tax refund loans. If you have short-term cash needs and anticipate a tax refund,...


How to Manage Your 401K Successfully

Retirement is always around the corner. No matter how far away we think it is, it soon sneaks upon us. You can never be too prepared for your retirement which is where your 401(K)...


How Does the Government Fund Social Welfare?

Social welfare refers to a range of programs that aid citizens either financially, educationally, or otherwise. These programs or activities are mainly targeted at groups of people...


Understanding Accumulated Earnings & Profits (E&P) Taxes

Accumulated earnings and profits (E&P) are the earnings accumulated by a company after the payment of dividends to shareholders. It measures a company's ability to pay cash...


Payroll Tax Delinquency For Businesses

You must know by now that you most likely have pytrol taxes when you start running a business. It doesn’t come as a surprise that the internal revenue service has strengthened...


Understanding Section 199A

As a new start-up entrepreneur, deductions can be accommodated. However, deductions are not rigid, they tend to undergo metamorphosis, and a deduction does not even remain forever....


Understanding Various Military Tax Benefits

For a start, you must be aware that you are only entitled to military tax benefits, if you are actively involved in service, or have served on active duty. Most importantly, it would...


Credit Counseling: How to Choose the Perfect Organization One For You

If you're in debt or feel your debt is growing, you're probably not alone. As many Americans are still trying to get their debt under control largely from the effect of the...


How to Deduct Your Mortgage Points

Buying a home is a huge financial responsibility. But it's a worthwhile investment. One smart way to kill two birds with one stone is to deduct your mortgage points from your taxes,...


How to Build Credit as a Small Business Owner

Everyone has a personal credit history. Personal credit history must be separated from their business credit for small business owners. As individuals, the errors in personal credit...


How Cryptocurrency in The Real Estate Industry Works

Given the disruption of blockchain in financial services and their subsequent widespread application across industries, it's hard to find a segment that the technology hasn't...


Three Ways to Use the Above-the-Line Deductions

Today, relatively few Americans itemize deductions on their tax returns. You can claim either the standard deduction or the itemized deductions, but not both. And, of course, you always...


The Concept of Per Diem & How it Helps

A business may use the term "per diem" to describe a type of work or a method of budgeting certain business expenses. Employers and employees can find many benefits to using...


How to Start Taking Care of Back Taxes

The issue of filing tax returns is a complicated process as it is. It's now even worse when you're behind on your tax payments. Well, let's look at how you can take care...


Which Treasury Bonds Are The Best?

Treasury bonds are known to be safe and harmless investments. It is a debt security that the United States Treasury issues. The bonds issued to investors are used to foot the country's...


Tax Tips For The Unemployed

It is never an easy ordeal,  losing your job, whether emotionally or financially. Regardless, it is crucial to continue to be proactive regarding your finances and tax status....


Differences Between Bookkeeping & Accounting

American businesses of all sizes have a number of financial information that must be organized and reported to comply with legal obligations, such as tax requirements. Various professions...


How to Retire Overseas and Avoid IRS Penalties

We totally get it. People with thousands and millions of dollars sometimes like to hide their money abroad.Of course, the government disapproves of tax evasion. After the financial...


How To Request an Offer in Compromise

An OIC (Offer in Compromise) is a payment option that the IRS makes available to taxpayers. It enables you to pay off your tax debt without "going bankrupt" or "breaking...


Notifying Uncle Sam of Your Address Change: Why and How to do it

When you change your location, many entities need to be updated on such status changes – credit card firms, fitness memberships, magazine subs, etc. There is a big probability...


Fundamentals of the Taxpayer Bill of Rights

What is the Taxpayer Bill of Rights (TABOR)?Taxpayer Bill of Rights: TABOR is a broad term that encompasses many concepts and initiatives at the local, state, and federal levels...


Understanding NFT Courses & How They Work

For everyone who has recently monitored the tech news, you would have noticed the frequent mention of NFTs alongside Bitcoin and blockchain. This has attracted many artists and artisans...


A Guide To Tax Estimation: What is it & When to Pay It

Those who cannot withhold federal taxes from each paycheck must pay taxes quarterly.United States income tax operates on a pay-as-you-go system, in which the federal government collects...


All You Need to Know About the Cash Balance Plan

Cash balance plans are defined benefit retirement savings plans that allow business owners to make large deductible contributions each year and build up deferred retirement savings....


Student Loan Interest Deductions

What are student loan interest deductions?These are deductions made from the total amount you owe for your college education (if you took a loan). It is a tax incentive that is especially...


Is It Possible For Medical Marijuana Dispensaries to Deduct their Business Expenses?

The legality of marijuana in many American states is questionable. However, medical marijuana can easily be obtained via a doctor’s prescription and is legal in 34 states. Also,...


Understanding Credit Builder Loan & How it Works

Since lending is a risky endeavor, lenders are usually interested in lending money to people with good credit history. It is not surprising as good credit implies that someone will...


Know The Types of Tax Identification Numbers

What is a tax identification number?The Tax Identification Number (TIN) is a 9-digit number used by the Internal Revenue Service (IRS) for tax purposes. This number can be a person's...


Understanding the System of Protecting Private Pension Benefits

Personal / private pension refers to the kind of pension you can set up to enable proper savings for retirement. The value of this pension is based on the amount of money you pay in...


Defaulting on Your Business Loan: Effect on Your Credit

Defaulting on your business loan will trigger a series of negative consequences. It might accelerate the loan, making you owe the entire loan balance rather than what is outstanding...


What To Expect With Cancelation Of Debt / Repossession

You might need to report the canceled amount as income on your tax return if you could get a debt write-off or forgiveness. You should know what to expect so you don't end up with...


Steps to Getting Rid of an IRS Tax Lien from Your Credit Report

One of the not-so-good aspects of a credit report is getting rid of negative listing even after its payment or the difficulty in removing it. By logic, it seems reasonable that as...


Enrolled Agent: Why do you need one?

Any tax advisor who is licensed to stand for you before Uncle Sam is called an enrolled agent. It could be when filing a tax return, taking care of an audit, appealing a fine or solving...


What Are Qualified Dividends?

There exist two kinds of dividends, qualified and ordinary dividends. Ordinary dividends are taxed at the income tax rate, and qualified dividends are taxed at a lower special rate.As...


Tribal Businesses Qualified for CARES Tax Credits / Loans

The CARES (Coronavirus Aid, Relief, and Economic Security) Act establishes many major loan and tax exemption programs to help tribal-owned businesses stay afloat and retain their employees...


Basic Investment Tips & Tax Implications

Some years, Congress changed the rules facing investors. In other years, the economy has the final say in rethinking the best investment plans. At the same time, the personal situation...


How to Defer Tax Payments: 4 Methods to Make this Happen

Uncle Sam allows small businesses to defer tax payment in a series of ways. Here are four methods to make this happen:Apply for a Payment Plan (Short Term)You can defer your tax payment...


Important IRA Rules for all Beneficiaries

You open an individual retirement account known as an inherited IRA on inheriting a tax-advantaged retirement plan like an IRA or 401(k). The heir needs to transfer such assets from...


Get a Quality Accountant to Prepare Your Taxes

Taxation is never easy. And for many Americans, this year is even more difficult.There are many general challenges between the mid-season changes to the tax code, the various incentive...


Your Bitcoin & Other Crypto Assets are Taxable: How to Report Virtual Currency to the IRS

Taxes are one of the only certainties in life, and cryptocurrencies are no exception.Yes, your Bitcoin is taxable. The IRS treats ownership of cryptocurrencies as "property"...


Considering a Health Savings Account: Here are the Pros & Cons

With a health savings account (HSA), anyone that has a high deductible health plan that qualifies can use pre-tax dollars for approved medical expenses. The money is kept using an...


Tips for Financial Planning for the Unmarried Couples

People in a long-term committed relationship have many similar financial concerns as couples. There is, however, the absence of the protection and some benefits married couples enjoy....


Some Proven Ways To Prevent Identity Theft

Identity theft occurs when someone uses your data to impersonate you, which is often used for their financial gains. In this article, you will find some of the proven ways to prevent...


The Different Types of IRA’s in Regards to Tax Savings

Traditional and Roth IRAs may be the king and queen of the retirement prom, but there are other great options that savers shouldn't ignore.Although there are lesser-known SEP,...


Things You Didn't know You can Deduct On Your Taxes.

No one loves the idea of giving Uncle Sam the hard-earned money. However, it is horrible to leave a tax deduction that could bring down your tax bill due to ignorance. As a result,...


Mistakes People Make When Dealing With the IRS & How to Avoid Them

Some people are lucky in their relationship with Uncle Sam as all they do is file their taxes and expect a refund or send in their balance for every tax year. Sadly, it is not so straightforward...




Common Tax Filing Mistakes & How to Avoid Them

Some errors on your tax return can cost you a large refund or end up with a larger tax debt with penalties and interest. There could be an audit in the worst cases, but you can defend...



How Many Types of Bankruptcies Are There?

Bankruptcy is not an unfamiliar term to most people in the US. It is usually an option for people who are unable to settle their debts. It helps in making a plan that will enable them...


Reporting Tip Income: Everything you should know

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...


Is Life Insurance Taxable?

One of the main advantages of life insurance is that payment to beneficiaries is free. Because life insurance benefits in the event of death can run into the millions of dollars, it's...