Thanks to the Internal Revenue Service's (IRS) cost-of-living adjustment, you can save more money on retirement plans and health savings accounts (HSAs) by 2020. This year, good...
One of the things every first time business owners need to know is filing tax. As long as they pay employees, quarterly filing of taxes is essential. This is where Form 941 comes in....
For people in the real estate business with agents that you give commissions after every sale or lease, you must report such payment on a 1099 MISC form. Your obligation as an employer...
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
As humans, mistakes are inevitable. Although, when you arm yourself with some information, you can avoid mistakes. When you have an error on your tax, it might not trigger a full audit....
Article Highlights:Keeping home improvement records Home gain exclusion amounts Records may be required to avoid taxIndividuals who meet the 2-out-of-5-year use and ownership...
Posted by Ace Plus Tax Resolution on 08/04/2020
Every business owner, irrespective of the field, needs to file and pay tax each year. The good news is there are legal strategies to reduce the amount you send to Uncle Sam as taxes.Some...
Posted by Don Bell Law on 07/24/2020
The number of people that employ themselves is rising. This includes freelancers, gig workers, small business owners, and startup finders. It is not surprising that this sector is...
Posted by Elliot Kravitz, ATP on 07/16/2020
Points to NoteBecoming an independent contractor can be tempting for employees who work from home, count on the client's work, and claim a large number of tax deductions, including...