The Income Tax Service has classified the income of Indian citizens into five different categories, depending on their source of income. These categories mainly include homeownership,...
Posted by Tim Thompson CPA PLLC on 09/18/2020
Is Foster Income Taxed?Payments received as Foster Income are NOT taxable, so you do not need to report them. Suppose the assistance is provided to a qualified foster individual and...
Posted by Tim Thompson CPA PLLC on 09/15/2020
When you consider the amount of money you have to send to Uncle Sam every month, it might be tempting to forge figures and inflate your tax returns. Intentionally lying on your...
Posted by Tim Thompson CPA PLLC on 08/30/2020
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....
Posted by Tim Thompson CPA PLLC on 08/24/2020
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...
Posted by Tim Thompson CPA PLLC on 08/20/2020
Divorce is hard and horrible. But at times, love turns sour, and two people have to part ways. The singular decision of parting ways involves many things. There are a ton of decisions...
Posted by Tim Thompson CPA PLLC on 08/07/2020
Business owners must file their tax and send what is due to the IRS the same way individual taxpayers do it. Companies must pay taxes on their profit alongside withholding taxes from...
Posted by Tim Thompson CPA PLLC on 07/24/2020
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
You should be considering withdrawing from your retirement savings if you are out of work and need income. Normally you have to pay a 10 percent early withdrawal penalty if you will...
Posted by Tim Thompson CPA PLLC on 07/16/2020
