Parents typically open custodial accounts if they want their children to save and invest because children in most states are not legally allowed to own financial assets. UTMA is one...
Posted by Advanced Accounting & Tax Planning on 01/19/2020
What is the law on the uniform transfer to minors act (UTMA)?The Uniform Transfer to Minors Act (UTMA) is an extension of the Uniform Gifts to Minors Acts (UGMA), which allows people...
Posted by John Pournaras Agency on 01/02/2020
The best in all of us is usually brought out by the circle of giving. Our moral drive to pay something forward when we feel grateful represented it. The benefits are usually immense...
Posted by Flynn Financial Group Inc on 12/29/2019
The cost basis for real estate as defined by the tax law of the United States of America as the original cost of real estate, adjusted for factors such as depreciation; it is the historical...
Posted by John Pournaras Agency on 10/31/2019
A 529 plan and a custody account are personal financial tools that parents use to help their children. The 529 plan includes an investment vehicle designed to raise money for your...
Posted by John Pournaras Agency on 09/26/2019
Tax time is on the rise, and if you collect information on health costs, you may wonder whether hospitals pay taxes and how health taxes differ from industry taxes. The answer is a...
Posted by Advanced Accounting & Tax Planning on 08/02/2019
As you probably know, most of your income is taxable. If you earn a salary, an hourly wage, tips, commissions, renting a property you entrust or dividends and interest on your investments,...
Posted by Advanced Accounting & Tax Planning on 08/02/2019
Are you thinking of making a significant donation to a charity when you exit this world? Life insurance is a resourceful planning technique that can offer additional benefits now or...
Posted by rinehimerbaker on 04/09/2019
Presenting gifts to your loved ones is quite common as it shows that you care for them. Some people are concerned about the gift taxes which you have to pay if you receive a gift from...
Posted by J.R.'S TAX SERVICE on 12/10/2018
