A defined benefit plan, more commonly known as a pension plan, provides guaranteed retirement benefits to employees. Defined benefit plans are primarily funded by the employer, with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/26/2023
A trust is a lawful entity that holds assets and money for future distribution or administration. For example, you can create trust for your children's college education by setting...
Posted by Rosovich & Associates, Inc. on 01/26/2023
The Collection Due Process (CDP) is a time to take a break from the IRS by proposing a deal to avoid the IRS collection penalty. The process was enacted alongside the Internal Revenue...
Posted by Rosovich & Associates, Inc. on 12/26/2022
Foreclosure is a common term, but only some know its true meaning and reason. You can only be a perfect homeowner or buyer if you know things associated with the term. Your idea about...
Posted by Rosovich & Associates, Inc. on 12/18/2022
You may have considered a custodial account if you want more flexibility regarding how your child's education funds are allocated. That way, the money doesn't have to be used...
Posted by Rosovich & Associates, Inc. on 11/28/2022
There are essential things to keep in mind during legal separation and divorce. First, the act changes not only relationship status but also taxes. A married couple will continue to...
Posted by Rosovich & Associates, Inc. on 11/17/2022
Fair treatment of taxpayers is the goal of the Taxpayer Bill of Rights. In 2014, the IRS adopted this set of 10 taxpayer rights proposed by the Taxpayer Advocate. However, the Internal...
Posted by Rosovich & Associates, Inc. on 10/16/2022
Handling divorce and everything that concerns the situation is never easy, so the tax implication will likely be the last thing on your mind. Divorce affects a person emotionally,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/07/2022
Tax penalties are not to be messed with but avoided. During every tax season, the IRS and Justice Department arrest faulty taxpayers. The scenario is threatening to many taxpayers...
Posted by Rosovich & Associates, Inc. on 10/07/2022
