If you own a rental property, you should know your federal tax obligations. All rental income needs to be reported on your tax return, and the associated expenses can generally be...
When you file your business taxes, you may be gathering information and asking yourself what is deductible and not. Income tax deductions benefit your business because they lower your...
For most startups, maintaining tax obligations is a headache. This guide examines the main steps and concepts you need to know about a sales tax. What is sales tax?Sales tax,...
If you owe a debt to a lender, such as a loan, hospital bill, or credit card, you can't automatically garnish your wages. Instead, the creditor needs to sue you first and get a...
The IRS has issued guidelines on the denial and revocation of passports due to serious tax violations. The IRS must notify the State Department when a person has a "serious"...
The IRS assesses penalties and interest on the employer's account when they fail to collect, report, and remit payroll taxes. You may be personally liable for failure to withhold...
It's tax season! Tax return companies and DIY software vendors work hard to convince individual taxpayers that their services and products are the way to maximize tax refunds or...
The Keogh plan (HR 10 plan) is a tax-deferred retirement plan funded by the employer targeted at self-employed people and businesses that are not incorporated. Distributions to such...
QBI, also known as qualified business income deduction is a form of tax deduction that allows business owners and qualified self-employed people to deduct as much as 20% out of their...