Here are some FAQ related to taxes:What Income am I to Pay taxes on?Uncle Sam’s definition of income is money, services, and properties. All income can be taxed, except there...
Posted by Don Bell Law on 02/17/2021
Involuntary conversion is the theft or damage of property without the owner's consent, such as partial or total destruction, theft, condemnation, or the sale or exchange of property...
Posted by Flynn Financial Group Inc on 02/16/2021
Before the Kiddie tax, parents could get tax savings by setting up an investment account using the kid's name. Parents could give various items like a stock to their kids in which...
In filing your federal tax return, you can decide to go through the itemized deduction channel or standard deduction method. Standard deduction involves some values defined by Uncle...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
The social security program is financed mainly by payroll taxes. This means that workers' taxes today will help fund retirees' benefits, and as soon as they start receiving...
One of the most vital parts of financial planning is life insurance. It is essential for people of a higher age as it helps them ensure their loved ones are in good care once they...
It can be an overwhelming thought if you don't know what share of your care insurance policy (Long term) will go to Uncle Sam. This post will shed light on the operation...
Under the cash method of accounting, not only is income recorded in the year in which it was received, but income is also reported in the year in which it is constructively received.The...