Income from fundraising is not considered a taxable source of income by the IRS. Tax fundraising laws define donations as gifts, which recipients do not have to report on their tax...
Posted by Flynn Financial Group Inc on 05/29/2021
Does the IRS take a large chunk of your cryptocurrency income? Maybe you traded one cryptocurrency for another at the right time and withdrew a lot of it in dollars, and now you have...
Posted by CORE PERFORMANCE on 05/29/2021
Almost every section of the tax code was changed by the 2017 TCJA, which also affected every taxpayer, including businesses. While some of these changes were positive (reduced tax...
Posted by Karen Munoz, EA on 05/24/2021
Tax is an issue most Americans hate dealing with; yet, no magic can exclude one from paying taxes. However, it might be pretty frustrating having to try your best to fulfill your tax...
Posted by Flynn Financial Group Inc on 05/24/2021
It is safe to call form 1040, the mother of all tax forms, as it is the standard tax form that people will need to report their income to Uncle Sam. In addition, it also comes handy...
Posted by CORE PERFORMANCE on 05/24/2021
The wage garnishment on a federal student loan occurs when the employer deducts part of the payment to repay the student loan after non-payment. Please note that under the Covid-19...
Posted by Carmen Garcia on 05/19/2021
While many people might not realize, there are amazing tax benefits of purchasing a house. Two significant advantages are the property tax deduction and the mortgage interest, which...
Posted by Karen Munoz, EA on 05/19/2021
For most 401(k) plans, the 401(k) tax only applies to withdrawals. Most 401(k) plans are tax-deferred, meaning no income tax on contributions or earnings, interest, or dividends that...
Posted by Flynn Financial Group Inc on 05/18/2021
A joint tax filing return makes both parties responsible for the tax bill. It removes the need to foot additional tax debt with an innocent spouse relief if your partner or ex-partner...
Posted by CORE PERFORMANCE on 05/06/2021
