When preparing for your income tax, the general rule is that you write off your daily business purchases, such as office supplies or utility vehicle mileage, as expenses, and purchases...
Posted by Rosovich & Associates, Inc. on 08/15/2021
The IRS has offered varying options to taxpayers who cannot pay their complete taxes. They have set up a partial payment installment agreement called the PPIA to sort such issues....
Posted by Rosovich & Associates, Inc. on 08/06/2021
Uncle Sam allows small businesses to defer tax payment in a series of ways. Here are four methods to make this happen:Apply for a Payment Plan (Short Term)You can defer your tax payment...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/31/2021
In 2001, the IRS was mandated to offer free tax preparation service alongside filing service to taxpayers that qualify. This led to the creation of the free filing alliance in 2003...
Posted by Rosovich & Associates, Inc. on 07/23/2021
There are many ways you can either reduce or cancel your debt. No matter the source – excessive credit card bills or student loans, it is possible to cancel your debt. In many...
Posted by Rosovich & Associates, Inc. on 06/04/2021
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
As a taxpayer if you have the intention or have already donated towards your favorite politicians' political campaigns. You might then be wondering if your contributions are tax...
Posted by Affordable Accounting Assistance on 03/08/2019
Individuals can exclude up to $250,000 of income from capital gains tax on the sale of their primary residence, thanks to the Internal Revenue Code (IRC) exclusion of home sales. Married...
Posted by Elliot Kravitz, ATP on 06/11/2021
For people that relocated to start a new job, they can deduct moving expenses. This deduction is available for people in the military. Rules for Military Qualification Military...
Posted by Elliot Kravitz, ATP on 01/30/2021
