The federal government estimates that approximately 60% of people use paid tax preparers to complete and file their tax returns. If you fall into this category, you have nothing to...
Posted by Tim Thompson CPA PLLC on 06/15/2020
There is a couple of helpful tips with which you can save money on business taxes. Even though this is not a guarantee that you will get a refund, it might qualify you for some reductions. When...
Posted by KB Tax Deviser CPAs on 02/18/2020
The holiday season is a good time for businesses to express gratitude to employees and customers by giving them gifts or hosting Christmas parties. However, before you start buying...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 01/30/2020
Recently, the Internal Revenue Service and the Treasury Department gave their verdict on the gift items and tax exclusion amount that have taken effect from 2018 to 2025. The regulations...
Posted by LLOYD J CAZES CPA on 01/23/2020
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 final regulations around the increased gift and estate tax exclusion amounts in effect from 2018-2025 has been issued finally by the Treasury Department and the Internal Revenue...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 12/29/2019
Although it may seem little, the interest you earn during the year is not tax-free. The interest is subject to the same tax rates as the rest of the income.Sources of interest income...
Posted by LLOYD J CAZES CPA on 11/25/2019
The benefits of self-employment are many, but there is at least one significant disadvantage: the absence of an employer-sponsored pension plan, such as 401 (k).Enter the Solo 401...
Posted by John Pournaras Agency on 11/13/2019
