Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
Posted by Elliot Kravitz, ATP on 03/17/2021
An IRS relief procedure for certain former citizens was introduced in September 2019 to allow certain Americans to renounce their U.S. citizenship without paying taxes and fines.The...
Posted by Elliot Kravitz, ATP on 02/28/2021
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...
Posted by Elliot Kravitz, ATP on 02/23/2021
Everyone that needs to pay for school fees using Coverdell ESA or 529 will likely get Form 1099-Q from the IRS. This reveals the entire withdrawal made in the year to cover your school...
Posted by Elliot Kravitz, ATP on 11/30/2020
There are some rules from section 451 (c) as amended by the TCJA, which makes available ways to have advance payment in income for the tax year that it was obtained.The amendment of...
Posted by Elliot Kravitz, ATP on 11/07/2020
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
The paycheck protection program is a product of the CARES Act. It is available to business owners via institutions like the bank of America. It allows businesses to borrow money and...
Posted by Elliot Kravitz, ATP on 06/22/2020
Your estate planning is not completed without the medical power of an attorney. Also called the durable power of attorney, it is a legal document that authorizes someone to take some...
Posted by Elliot Kravitz, ATP on 06/22/2020
A possibly rewarding and calming period of a person’s life is retirement. A new set of challenges arise as the transition began and this could lead to nervousness or feeling...
Posted by Elliot Kravitz, ATP on 04/27/2020
