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...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/29/2021
This is a form of savings account in which the owner gets some type of tax advantage. The employer can establish a flexible spending account or flexible spending arrangement for its...
Posted by Rosovich & Associates, Inc. on 03/16/2021
A tax amnesty is a program by the US government designed for tax defaulters to pay a part of some of their debt without the interest and penalties. This happens in the US, in which...
Posted by Rosovich & Associates, Inc. on 03/05/2021
The constructive receipt is a tax concept based on which it is assumed that a taxpayer has received income, even though the income has not yet been physically received, which must...
Posted by Rosovich & Associates, Inc. on 02/22/2021
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
Posted by Rosovich & Associates, Inc. on 02/05/2021
Certain disability and retirement benefits may be open to qualified Railroad employees and their spouses.Railroad Retirement is similar to the Social Security system but legislatively...
Posted by Rosovich & Associates, Inc. on 01/30/2021
We have seen that the stock market has hit several new highs in recent months. This is in addition to the fantastic bull market that ran for more than ten years before the rapid coronavirus...
Posted by Rosovich & Associates, Inc. on 01/22/2021
The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
Posted by Rosovich & Associates, Inc. on 01/13/2021
Alimony, also known as spousal support, is the money paid to a spouse to another after a divorce. The idea is to help the spouse with the lower income to take care of expenses and...
Posted by Rosovich & Associates, Inc. on 01/06/2021
