Who counts as an independent contractor versus an employee may be about to change, as a new proposal from the US Department of Labor (DOL) suggests revamping the classification of...
Posted by Rosovich & Associates, Inc. on 01/30/2023
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
You may be eligible for the qualified business income deduction if you are a small business owner.The Qualified Business Income (QBI) deduction provides small business owners with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/09/2023
Some expenses can still be deducted due to the tax reform that happened in 2018. A detailed list of employee expenses that have been suspended as employee tax deductions, some until...
Posted by Rosovich & Associates, Inc. on 12/08/2022
Virtually everyone has suffered a loss, whether it's an accident, which may be covered by accident insurance, or theft.Tornadoes, earthquakes, wildfires, hurricanes, and other...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/30/2022
The traditional process is slow and tedious if you want to convert your corporation to an LLC. But in many states, there is an easier and less expensive way.Although it doesn't...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/28/2022
Even if you're an expert at something, getting a second opinion is always a good thing. When it comes to money matters, getting help is very important. A financial advisor can...
Posted by Rosovich & Associates, Inc. on 09/30/2022
Early withdrawal has a downside to your retirement account. Retirees can take up to 100,000 dollars from their account as of 2020 tax-free. However, the 100,000 dollars is placed per...
Posted by Rosovich & Associates, Inc. on 09/27/2022
Ever heard of the TAP? Well, you have nothing to worry about as you're not alone. What is TAP?TAP is a Federal Tax Advisory Committee to the IRS. The purpose of TAP is to...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/21/2022
