You may be subject to capital gains tax when you gain from the sale of an asset, such as a business, land, or shares. Capital gains are sometimes taxed at the same rate as ordinary...
Posted by CORE PERFORMANCE on 02/28/2022
The IRS laid out anticipated guides for reducing business meals expenses. Taxpayers and tax advisors are expected to follow these regulations for verifying business meal expenses so...
Posted by CORE PERFORMANCE on 01/21/2022
Expenses incurred due to the legal costs of running a profitable business that yields an available income is usually listed as a tax-deductible expense. It's only when the legal...
Posted by CORE PERFORMANCE on 01/09/2022
Even the most responsible business owner can fall behind with taxes. Every year, unforeseen delays, expenses, and other financial hardships keep people from paying their taxes to the...
Posted by CORE PERFORMANCE on 12/27/2021
After the death of any property owner, their property must be accounted for and distributed based on their wish. As a result, there should be a will, which should name parties executors...
Posted by CORE PERFORMANCE on 12/18/2021
The executor, most of the time, is charged with filing the state and federal income tax return for the deceased at the year of death. The surviving spouse is responsible if they file...
Posted by Karen Munoz, EA on 12/10/2021
If you've taken a break from the Required Minimum Distributions (RMDs) in 2020 due to the CARES Act, we hope you had a great vacation and are ready to come back and update your...
Posted by CORE PERFORMANCE on 12/10/2021
Over the years, Employee Stock Ownership Plans (ESOPs) have become pretty popular, while the traditional exit strategy has faded away. Many companies' owners pass ownership of...
Posted by CORE PERFORMANCE on 11/29/2021
As the year winds up, many might feel it is too late to get any savings on their tax. However, no matter what you already earned as income, there are some moves you can make to reduce...
Posted by Karen Munoz, EA on 11/21/2021
