Military personnel are some of the people who make the largest sacrifice. Such a line of job comes with severe hardships, so Uncle Sam offers some compensation in a bid to cushion...
Posted by Rosovich & Associates, Inc. on 08/30/2021
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...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 08/24/2021
When preparing for your income tax, the general rule is that you write off your daily business purchases, such as office supplies or utility vehicle mileage, as expenses, and purchases...
Posted by Rosovich & Associates, Inc. on 08/15/2021
The IRS has offered varying options to taxpayers who cannot pay their complete taxes. They have set up a partial payment installment agreement called the PPIA to sort such issues....
Posted by Rosovich & Associates, Inc. on 08/06/2021
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...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/31/2021
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...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/24/2021
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...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/17/2021
As a business owner, paying your estimated taxes quarterly assures you that there will be no significant tax bill waiting for you in April.You have to pay taxes, but luckily the Internal...
Posted by Rosovich & Associates, Inc. on 07/16/2021
Many people frown at the idea of sending their hard-earned dollars to Uncle Sam. So, to cushion the effect of taxes, Uncle Sam provided some relief in form of tax deductions and credit...
Posted by Rosovich & Associates, Inc. on 07/06/2021
