by Allen Lenth | May 26, 2023 | Bookkeeping Payroll Services, Tax Preparation
The Alternative Minimum Tax (AMT) was designed to keep wealthy taxpayers from using loopholes to avoid paying taxes. But because it was not automatically updated for inflation, more middle-class taxpayers were getting hit with the AMT each year. Congress traditionally...
by Allen Lenth | May 24, 2023 | Bookkeeping Payroll Services, Tax Preparation
A 529 plan (aka qualified tuition plan or QTP) operates by using a state or educational institution program tax benefits and other incentives. This makes saving for college, post-secondary training, and K–12 education expenses easier. Formerly limited to higher...
