Reconciliation is the method of verifying the accuracy and consistency of your financial statements.Reconciliation also helps identify and explain any discrepancies that may arise...
According to experts, the best amount to contribute in your 401(k) is between 10 and 20% of your gross salary. It does not matter the destination account; it is essential to contribute...
One of the most popular forms of investment is dividend investing. Dividends provide a smooth income stream to investors. You have two options when the dividend accumulates on a stock....
Taxpayers are allowed to amend tax returns using the form 1040x if the following cases occur: a mistake was found in the tax return, failure to file eligible deductions or credit,...
1031 exchange is simply a swap of an investment property for another. Since most swaps are considered sales, they are taxed. Meeting the requirement of 1031 will remove or reduce your...
Almost everyone is eager to know when they will have their refunds from the IRS. Thanks to technology, you can track this online and know its status. The IRS' 'Where's...
Posted by Elliot Kravitz, ATP on 07/23/2020
Saving for retirement is mandatory, and there are some retirement accounts in which users enjoy tax breaks for having money in their retirement account. Examples are 401(k)s, IRAs,...
Posted by Elliot Kravitz, ATP on 05/17/2020
A possibly rewarding and calming period of a person’s life is retirement. A new set of challenges arise as the transition began and this could lead to nervousness or feeling...
Posted by Elliot Kravitz, ATP on 04/27/2020
Everyone wants a less tax-friendly bill. One way to do this would be to live in a state with no income tax. As of 2019, seven states; Florida, Alaska, Nevada, Texas, South Dakota,...
Posted by Elliot Kravitz, ATP on 04/20/2020