Some errors on your tax return can cost you a large refund or end up with a larger tax debt with penalties and interest. There could be an audit in the worst cases, but you can defend...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/30/2021
Many people are less concerned about whether they owe gift taxes or not. A gift tax return is a Federal Government tax return often filed with certain terms and conditions by the gift's...
Posted by Rosovich & Associates, Inc. on 04/29/2021
The significant difference between S corps and partnership is the protection limited liability that S corps business owners enjoy. Partnerships, however, do not have this protection,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/27/2021
There are multiple options for anyone that wants to pay their taxes. This article will shed light on various payment options available from the IRS.Automatic Payment People who...
Posted by Rosovich & Associates, Inc. on 04/24/2021
Bankruptcy is not an unfamiliar term to most people in the US. It is usually an option for people who are unable to settle their debts. It helps in making a plan that will enable them...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/21/2021
A flexible spending account (FSA) is a healthcare benefit account sponsored by the employer, which allows them to set aside $2,7750 every year to take care of the cost for medical...
Posted by Rosovich & Associates, Inc. on 04/15/2021
All workers and employers in the service industries where tips occur should abide by the relevant tax rules. One needs to pay income tax, Medicare tax, and Social security taxes on...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/09/2021
Many landlords pay more tax on their properties than they should. This is because they are ignorant of the several tax advantages and benefits of becoming a landlord. More than any...
Posted by Rosovich & Associates, Inc. on 04/06/2021
There is no magic formula to determine the amount of life insurance you will need. However, you can make a reasonable estimate if you consider your present financial situation and...
Posted by Rosovich & Associates, Inc. on 03/30/2021
