What is a foreign tax credit?A foreign tax credit is a United States tax credit that is used to offset income tax paid abroad. United States citizens and resident aliens who pay income...
Posted by Rosovich & Associates, Inc. on 05/31/2022
Employees have their taxes withheld by their employers. So, how do the self-employed pay? The self-employed pay estimated taxes quarterly by due dates to the IRS. This way, they can...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/22/2022
The real estate planning world, the financial planning world, and parliamentarians considered several significant estates and gift tax changes at the end of 2021. The Biden administration...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/10/2022
As part of the Internal Revenue Code, specific organizations would have to report their activities for every calendar year for documentation purposes. Such organizations must fill...
Posted by Rosovich & Associates, Inc. on 04/17/2022
Accumulated earnings and profits (E&P) are the earnings accumulated by a company after the payment of dividends to shareholders. It measures a company's ability to pay cash...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/09/2022
You must know by now that you most likely have pytrol taxes when you start running a business. It doesn’t come as a surprise that the internal revenue service has strengthened...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/31/2022
If you know you'll get a refund at tax time; filing taxes can be a lot of fun. But if you suspect you owe the IRS money that you don't have, it can be difficult to even begin...
Posted by Rosovich & Associates, Inc. on 03/31/2022
For a start, you must be aware that you are only entitled to military tax benefits, if you are actively involved in service, or have served on active duty. Most importantly, it would...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/17/2022
Sales tax on medical marijuana can be a controversial topic.According to a study, medical cannabis (also known as medical marijuana) can positively benefit people with medical conditions...
Posted by Rosovich & Associates, Inc. on 03/17/2022
