With many tax benefits available for education, it is evident that the government is interested in making higher education open and more accessible for many people. It can be...
Posted by One Stop Taxes on 01/20/2021
What is a health expense reimbursement agreement (HRA)?A health reimbursement agreement (HRA) is an employer-funded plan that reimburses employees for eligible medical expenses and,...
Posted by Schneiderman and Friedman on 01/18/2021
One of the most common mistakes businesses make is not having the right status for a worker. The options are employees or self-employed.An independent contractor (IC) carries out an...
Posted by Carmen Garcia on 01/18/2021
While taxes for 2020 are not due until 2021, many important financial decisions made now can have a major impact on farm taxes and when they are paid. An important resource is the...
Posted by Karen Munoz, EA on 01/17/2021
If you look at the TCJA, you will see that the C Corps' new tax rate is 21%, while the maximum individual rate is 37%. Also, individuals can benefit from a 20% deduction for pass-through...
Posted by CORE PERFORMANCE on 01/14/2021
A household employment tax allows everyone that hires a nanny or a gardener, to name a few, and pays them above $2,200 every year, to pay household employee taxes for their worker....
Posted by Tucker Accounting Services LLC on 01/13/2021
When two parties agree on something concerning a case, they settle. In this case, the defendant will pay an agreed sum of money to the plaintiff. The plaintiff, in many cases, could...
Posted by Schneiderman and Friedman on 01/11/2021
The adoption credit is a nonrefundable tax credit, which means that the tax credit amount is limited to taxes due on your 2020 income tax return. Any additional credit value can be...
Posted by Carmen Garcia on 01/07/2021
If you buy an annuity in pre-tax dollars, the annuity payments will be fully taxed as income. If you purchase an annuity with after-tax funds, you only have to pay income tax. Annuities...
Posted by Don Bell Law on 01/07/2021
