Proposals to introduce a wealth tax into the US Internal Revenue Code have been emphasized by some Democratic candidates such as Bernie Sanders, Tom Steyer, and Elizabeth Warren especially...
Posted by Debi G Hill, CPA on 12/28/2019
When it comes to who you can claim as a dependent on your tax return, the Internal Revenue Service (IRS) defines “relative” somewhat loosely -- that is the good news. The...
Posted by LLOYD J CAZES CPA on 12/28/2019
In the form of higher contribution limits for 2020, the Internal Revenue Service (IRS) gave retirement savers an early holiday gift this year. Workplace retirement plan contribution...
Posted by LLOYD J CAZES CPA on 12/28/2019
You may be eligible for an annual credit adjustment if you received substitute payments in lieu of dividends. During a period in which shares would have earned dividends but were...
Posted by Debi G Hill, CPA on 11/26/2019
Mutual fund taxes generally include dividend and capital gains taxes, while the investor owns mutual fund shares and capital gains taxes when selling units of the mutual fund. The...
Posted by LLOYD J CAZES CPA on 11/25/2019
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
What are the 2 and 20 (hedge fund rate)?The global hedge fund industry has seen a downward trend in management and profitability over the last decade, challenging the traditional "2...
Posted by Advanced Accounting & Tax Planning on 11/25/2019
An IRS CP2000 warning is sent to the taxpayer when the income reported by third-party sources, such as an employer, a bank, or a mortgage company, does not match the income reported...
Posted by YourIRSTaxAdvocate.com on 11/13/2019
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
