First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
Posted by CORE PERFORMANCE on 02/28/2021
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
Posted by Schneiderman and Friedman on 02/23/2021
Alternative minimum tax refers to a percentage of taxes a taxpayer must pay the government regardless of the deductions the taxpayer claims. With the AMT, some taxpayers get to pay...
Posted by Cypress Tax Solutions on 02/23/2021
What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
Posted by Karen Munoz, EA on 02/23/2021
The only things certain in life are death and taxes. While taxes are certain in life, many investors do not consider them when making their retirement portfolios plan. If you do not...
Posted by Cypress Tax Solutions on 01/31/2021
With many tax benefits available for education, it is evident that the government is interested in making higher education open and more accessible for many people. It can be...
Posted by One Stop Taxes on 01/20/2021
Municipal bonds have long been considered suitable for high net worth investors because their yields are generally excluded from federal income tax and, in some cases, state and local...
Posted by Stevenson Tax and Accounting, Inc. on 01/18/2021
Being a self-employed, independent contractor, or working for a small business can seem like a dream. However, one downside is that you are unlikely to have access to a workplace pension...
Posted by Flynn Financial Group Inc on 01/14/2021
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Posted by Schneiderman and Friedman on 12/28/2020
