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
One of the main advantages of life insurance is that payment to beneficiaries is free. Because life insurance benefits in the event of death can run into the millions of dollars, it's...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/29/2021
When is the perfect time to give birth to a child during a tax year so as to claim that child as dependent on your tax return? You might be amazed by the answer: but anytime during...
Posted by Rosovich & Associates, Inc. on 03/26/2021
This is a form of savings account in which the owner gets some type of tax advantage. The employer can establish a flexible spending account or flexible spending arrangement for its...
Posted by Rosovich & Associates, Inc. on 03/16/2021
A tax amnesty is a program by the US government designed for tax defaulters to pay a part of some of their debt without the interest and penalties. This happens in the US, in which...
Posted by Rosovich & Associates, Inc. on 03/05/2021
There are bond authorities that are state-chartered in every state. These are housing agencies, healthcare facilities, authorities for the financing of industrial development, etc....
Posted by Rosovich & Associates, Inc. on 02/28/2021
The constructive receipt is a tax concept based on which it is assumed that a taxpayer has received income, even though the income has not yet been physically received, which must...
Posted by Rosovich & Associates, Inc. on 02/22/2021
