Articles

Reporting Gambling Winnings and Losses on Your Tax Return

26 October 2024

Gambling can be an exciting pastime, but it also comes with financial implications that gamblers need to consider, especially when tax season rolls around. Understanding how to report your gambling winnings and losses on your tax return is crucial to ensuring compliance with IRS regulations...

Understanding Distribution Rules for an Inherited IRA

19 October 2024

Inheriting an Individual Retirement Account (IRA) can provide financial benefits, but it also comes with complicated rules regarding distributions that both beneficiaries and estate planners need to understand. The distribution rules governing inherited IRAs changed significantly with the passing of the Setting Every Community Up for Retirement Enhancement (SECURE) Act in December 2019. This article will guide you through the essential distribution rules for inherited IRAs, helping beneficiaries navigate the complexities involved...

Writing Off the Expenses of Starting Your Own Business

12 October 2024

Starting your own business can be a thrilling and rewarding endeavor, yet it often comes with significant costs. Fortunately, many of these expenses can be written off when tax season rolls around. Understanding how to effectively navigate startup expenses is critical, as it can help save you money and ease the financial burden of starting a new venture...

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Manila Central USA is a provider of tax and document preparation services. We are not attorneys. Manila Central USA, Inc. is not a law firm. We can only provide self-help services at your specific direction. We cannot perform the services that an attorney performs and therefore cannot engage in the practice of law, represent you in court, advise you about your legal rights or the law and select forms for you. We cannot charge a fee for referral of the client to another for services that we cannot or will not perform. If you need legal advice and/or representation, you should contact an attorney or the State Bar of California for a referral. All information on this site are for general informational purposes only and does not, and is not intended to, constitute legal advice nor a substitute for legal advice. If you have any legal questions, you should seek the advice of an attorney. We assume no responsibility or liability for any loss, injury, claim, or damage related to your use of any information from this site, whether from errors or omissions in the content.