In this article, we discuss the complexities of itemized deductions, which frequently puzzle individuals, who question the value of meticulously recording receipts and expenditures. We aim to provide clarity and guidance through the maze of itemized deductions, ensuring you navigate confidently. Understanding the Basics: Itemized deductions are expenses that you can subtract from your taxable […]
Read More… from Navigating Itemized Deductions with Ben Romine
As we navigate the paperwork jungle that often accompanies financial planning, one particular packet deserves your undivided attention: the 529 plan. In the midst of engagement letters and tax packets, the 529 plan shines as a beacon of future security and educational prosperity for you and your loved ones. So, what exactly is a 529 […]
Read More… from Explaining The 529 Plan with the Romine Group
What exactly are 1099s? There are two main types of information you need to know about: 1099-NEC and 1099-MISC. Let’s break them down: 1099-NEC (Non-Employee Compensation): This form applies when you pay someone more than $600 annually for services they provide to your business. Think of subcontractors or independent contractors who have worked on specific […]
Read More… from Navigating the 1099 Maze: Understanding Your Tax Responsibilities
At The Romine Group, we pride ourselves on keeping you informed about crucial regulatory changes that may impact your business operations. Today, we’re shedding light on the Corporate Transparency Act and its implications, particularly regarding Beneficial Ownership Information (BOI) reporting. So, what exactly does this mean for you? The Corporate Transparency Act mandates that entities […]
Read More… from Navigating the Beneficial Ownership Information (BOI) Report with the Romine Group