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...
What is the trust fund penalty?The term "trust fund" has a varied meaning when applied to labor tax rather than asset management. This is the amount of payroll tax levied...
As long as you are full-time Forex traders, you will enjoy some impressive tax advantages that ordinary market participants won't get. However, this qualification might be challenging....
A flexible spending account, or FSA, is a pre-tax expense account that many employers offer for employees' benefit. These bills allow you to pay necessary expenses without paying...
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...
The advantages of being a self-employed or independent contractor are numerous. You have the freedom and flexibility to do your job, and it's also a great way to start your own...
In appreciation for military men's services, Uncle Sam offers a series of tax breaks for veterans with disabilities. This article sheds light on each alongside how one might qualify...
Tax exemption is the right to exclude from tax certain amounts of income or assets.Being tax-exempt or having a tax exemption seems like a way to lower your tax bill, but it can cause...
The payment of income tax is a reality. And when Uncle Sam says income, he is talking about all the money you make, whether it's from your job or your investment. This includes...