You open an individual retirement account known as an inherited IRA on inheriting a tax-advantaged retirement plan like an IRA or 401(k). The heir needs to transfer such assets from...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/24/2021
As a business owner, paying your estimated taxes quarterly assures you that there will be no significant tax bill waiting for you in April.You have to pay taxes, but luckily the Internal...
Posted by Rosovich & Associates, Inc. on 07/16/2021
The last thing any business owner wants is to be audited by Uncle Sam. Truthfully, the probability of an audit is generally low though some red flags can trigger a business audit....
Posted by Rosovich & Associates, Inc. on 05/29/2021
Overseas accounts are a great way to protect your assets and ensure that you are getting the best rate of return on your investments. While there are many good banks in America, not...
Posted by Patrick O'Hara, EA on 11/11/2016
Many taxpayers choose to run their business out of their home. This saves them money on renting out another space and the maintenance and utilities of another locations. And for...
Posted by Dennis O'Brien on 01/31/2016
It is the ultimate dream. Getting to sit in your pajamas all day and do a bit of work while watching your favorite show and hanging out with the kids. You don’t have to answer to...
Posted by Patrick O'Hara, EA on
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
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
Taxes that you did not pay for years are called back taxes. These taxes are due for at least a year and come with interest and penalties until paid. Many people owe back taxes and...
Posted by Elliot Kravitz, ATP on 07/09/2020
