An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
Posted by Flynn Financial Group Inc on 09/02/2020
Form 8396 is an IRS form used by homeowners to apply for a mortgage. The purpose of the mortgage is to help low-income taxpayers pay for their housing. You can only apply for a credit...
Posted by Don Bell Law on 08/29/2020
While the separate filing of tax is a good idea and comes with its advantages, filing jointly brings about significant tax breaks in addition to being a simple method. We compiled...
Posted by Carmen Garcia on 08/24/2020
Carried interest is part of the income obtained when a private equity fund sells an asset. Sometimes called "carry," it is part of the net capital gains of the sale fund....
Posted by Flynn Financial Group Inc on 08/20/2020
A particular problem often arises when one spouse feels that he or she has been unfairly affected by the other spouse's tax liability. Married taxpayers who file a joint income...
Posted by Carmen Garcia on 08/20/2020
Will you pay taxes on the sale of your home? Probably not, unless you have an income over $ 250,000 or over $ 500,000 for couples. But before we continue, let's take a look at...
Posted by Flynn Financial Group Inc on 08/13/2020
The Tax Cuts and Jobs Act (TCJA) of 2017 reduced the federal income tax rate for C Corps to 21%, effective January 1, 2018. With this tax rate reduction, business owners can assess...
Posted by Carmen Garcia on 08/07/2020
Except you have recently taken a vacation to Mars, you must have felt the Covid-19 pandemic pinch. There have been job losses, and people are feeling the heat. With the time for the...
Posted by Don Bell Law on 08/07/2020
Your business is personal good, has resources within its walls, and has a huge impact on what your organization owes in tax. Unfortunately, this critical perspective is often overlooked...
Posted by LLOYD J CAZES CPA on 08/07/2020
