Finding out your business's shape can seem like a chore, as there are many types of businesses to start. A good option is a limited liability company (LLC), which has some of the...
Posted by Don Bell Law on 01/18/2021
While taxes for 2020 are not due until 2021, many important financial decisions made now can have a major impact on farm taxes and when they are paid. An important resource is the...
Posted by Karen Munoz, EA on 01/17/2021
If you look at the TCJA, you will see that the C Corps' new tax rate is 21%, while the maximum individual rate is 37%. Also, individuals can benefit from a 20% deduction for pass-through...
Posted by CORE PERFORMANCE on 01/14/2021
Debts with the IRS come in many shapes and sizes. The most common debts owed to the IRS are back or unpaid income taxes. Now that more people are working full or part-time, overdue...
Posted by Flynn Financial Group Inc on 01/06/2021
Tax credits, such as elderly tax credit and the disabled, are credits applied to taxes owed. For example, if you owe $2,000 in taxes and have a loan of $700, you only have to pay $1,300....
Posted by Don Bell Law on 01/01/2021
What if you had the chance to win an award of excellence for your outstanding contributions to art, community service, or science? Do you have to pay income tax on this amount? The...
Posted by Karen Munoz, EA on 12/31/2020
The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Posted by Schneiderman and Friedman on 12/28/2020
The IRS deals with foreclosure as well as the sale of a property. It was already yours, and you no longer own it, so you could end up paying taxes on a mortgaged property. The event...
Posted by Carmen Garcia on 12/26/2020
Traders can enjoy significant tax savings and here are some rules that the IRS checks before qualifying traders.Hours: It would help if you spent at least four hours per day trading...
Posted by Don Bell Law on 12/20/2020
