Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
Posted by Rosovich & Associates, Inc. on 05/18/2021
Some errors on your tax return can cost you a large refund or end up with a larger tax debt with penalties and interest. There could be an audit in the worst cases, but you can defend...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/30/2021
There are multiple options for anyone that wants to pay their taxes. This article will shed light on various payment options available from the IRS.Automatic Payment People who...
Posted by Rosovich & Associates, Inc. on 04/24/2021
Bankruptcy is not an unfamiliar term to most people in the US. It is usually an option for people who are unable to settle their debts. It helps in making a plan that will enable them...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/21/2021
The constructive receipt is a tax concept based on which it is assumed that a taxpayer has received income, even though the income has not yet been physically received, which must...
Posted by Rosovich & Associates, Inc. on 02/22/2021
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
Posted by Rosovich & Associates, Inc. on 02/05/2021
Article Highlights:Stimulus Payments to Deceased Individuals Stop Payments Being Made on Checks Already Issued IRS Authority to Deny Stimulus Payments to Deceased Individuals History...
Posted by Ace Plus Tax Resolution on 08/04/2020
Article Highlights:Keeping home improvement records Home gain exclusion amounts Records may be required to avoid taxIndividuals who meet the 2-out-of-5-year use and ownership...
Posted by Ace Plus Tax Resolution on 08/04/2020
Many people may believe that they can get away without filing taxes if they don’t receive any notices in that corresponding year. However, the Internal Revenue Service will investigate...
Posted by Ace Plus Tax Resolution on 07/22/2020
