The last thing any business owner wants is to be audited by Uncle Sam. Truthfully, the probability of an audit is generally low though some red flags can trigger a business audit....
Posted by Rosovich & Associates, Inc. on 05/29/2021
The significant difference between S corps and partnership is the protection limited liability that S corps business owners enjoy. Partnerships, however, do not have this protection,...
When is the perfect time to give birth to a child during a tax year so as to claim that child as dependent on your tax return? You might be amazed by the answer: but anytime during...
Tax legislation continually changes, with new laws and regulations springing up every time. With the South Dakota v. Wayfair case, more complications were added to e-commerce...
The child tax credit is a credit that can give you up to $2,000 for each qualifying child while a qualifying dependent gets $500. It is a refundable tax credit that diminishes when...
Coastal Business Services understands that the tax laws can be confusing to most taxpayers. While it would be ideal to just fill out a few yes or no questions and be done for the year,...
The Internal Revenue Service can impose a huge number of tax defaulters that do not pay taxes or do not pay on time. These penalties may also include financial penalties imposed on...
An IRS relief procedure for certain former citizens was introduced in September 2019 to allow certain Americans to renounce their U.S. citizenship without paying taxes and fines.The...
If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...