You have completed all necessary tax documents, including Schedule C and your tax return. Now you discovered a mistake, and an Amended form 1040X will come to your rescue.Form 1040X:...
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...
With the next tax season around the corner, you might be wondering if you've paid enough tax this year. Don't worry, we have put together a list of cash flows you can achieve...
There are two distinct programs that pay Veteran Survivors some form of benefits as long as their death is connected to service. These benefits are dependence and indemnity compensation...
Will you pay taxes on the sale of your home? Probably not, unless you have an income over $ 250,000 or over $ 500,000 for couples. But before we continue, let's take a look at...
Amid all the cautionary advice to prevent students from borrowing too much money to pay for their university education, one bit of good news may go unnoticed: interest paid on student...
A sales tax is a consumption tax exacted by the government for the sale of goods or services. An established sales tax is levied at the store, collected by the retailer, and sent to...
Posted by Tim Thompson CPA PLLC on 07/16/2020
Prices of securities in the past two months have gone haywire. One day stocks are crashing, the next day it’s zooming. There could be a bizarre dip of a low-risk bond fund in...
Posted by Tim Thompson CPA PLLC on 06/23/2020
Congratulations! You’ve finally retired. For most people, retirement is a huge accomplishment. Sometimes, retirement means setting aside enough money to stop working for someone...