by PSA CPA | Nov 1, 2024 |
IRAs are designed to help individuals save for retirement, but what happens to these funds if the account owner passes away? When setting up an IRA, you have the option to designate a beneficiary who will inherit your IRA if you die. If you don’t assign a beneficiary,...
by PSA CPA | Nov 1, 2024 |
Economic downturns often result in layoffs, particularly in industries like tech. For some employees, the bright spot in these challenging times is a severance package. If you’ve received one, it’s natural to feel overwhelmed. While taxes may not be top of...
by PSA CPA | Nov 1, 2024 |
Imagine having the choice to apply your 401(k) employer match toward student loan payments or healthcare costs instead of just retirement. This could soon be a reality, thanks to a recent IRS ruling for employees at one company, who now have the option to direct their...
by PSA CPA | Sep 1, 2024 |
What Are Income Statements? Income statements, often referred to as profit and loss (P&L) statements, are financial reports that summarize an entity’s performance over a set time period. These documents are crucial for businesses and individuals alike,...
by PSA CPA | Aug 1, 2024 |
Beyond just being our best friends on long drives and cozy laps in the winter, animals can also be effective medicinal therapies in certain cases. You’ve come to the correct place if you’re an American taxpayer curious about how owning a service animal can...
by PSA CPA | Aug 1, 2024 |
This summer, taxes are most likely the last thing on your mind, but bear with us! In fact, the summer is a great time to do a mid-year financial review and evaluate your tax status. Here are some summer tax decisions you can make to save yourself some money come tax...
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