When comparing a partnership to an S Corp, it is important to consider the pros and cons of each, especially when it comes to creating the legal structure for your business. In addition...
Posted by Flynn Financial Group Inc on 06/18/2021
If you are overwhelmed with student loan debt, there may come a time when it will be difficult for you to move forward. You make payments as at when due, but you are not even close...
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...
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
The standard mileage rate, also known as daily mileage or deductible mileage, is a rate set by the Internal Revenue Service (IRS) per mile maintained by a taxpayer for business purposes...
On September 5, 2019, the Treasury Department and the IRS released proposed regulations that would affect when taxpayers report their gross income amounts. In general, section 451...
There are some rules from section 451 (c) as amended by the TCJA, which makes available ways to have advance payment in income for the tax year that it was obtained.The amendment of...
Posted by Elliot Kravitz, ATP on 11/07/2020
Starting a business can be an exciting new adventure for those with an idea who wish to be self-employed. There are several things to consider, however, when you are opening...
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