To be exempt from tax as a social welfare organization described in Section 501(c)(4) of the Internal Revenue Code (IRC), an organization must not be organized for profit. It must...
Posted by Elliot Kravitz, ATP on 05/30/2021
The COVID-19 pandemic is complicating several people's efforts to file their 2020 taxes ahead of schedule, but the good news is that the Internal Revenue Service (IRS) has been...
Posted by Elliot Kravitz, ATP on 05/06/2021
If you own a rental property, you should know your federal tax obligations. All rental income needs to be reported on your tax return, and the associated expenses can generally be...
Posted by Elliot Kravitz, ATP on 04/29/2021
What is the trust fund penalty?The term "trust fund" has a varied meaning when applied to labor tax rather than asset management. This is the amount of payroll tax levied...
Posted by Elliot Kravitz, ATP on 04/20/2021
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
Posted by Elliot Kravitz, ATP on 11/24/2020
Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...
Posted by Elliot Kravitz, ATP on 10/01/2020
Women tend to worry a lot about retirement. This is not surprising as women tend to live longer, and they typically need more health care plans compared to men. This makes it essential...
Posted by Elliot Kravitz, ATP on 09/24/2020
There are two distinct programs that pay Veteran Survivors some form of benefits as long as their death is connected to service. These benefits are dependence and indemnity compensation...
Posted by Elliot Kravitz, ATP on 08/13/2020
We all come to points in our life when we have to borrow money. It could be student loans to finance your education, mortgage to buy a house, or loan for your first vehicle. It could...
Posted by Elliot Kravitz, ATP on 07/09/2020
