Having a cash flow projection can be the difference between a thriving business and filling for a Chapter 11 for small business owners.A study found that 30% of businesses fail because...
Posted by Karen Munoz, EA on 08/06/2021
Income from fundraising is not considered a taxable source of income by the IRS. Tax fundraising laws define donations as gifts, which recipients do not have to report on their tax...
Posted by Flynn Financial Group Inc on 05/29/2021
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...
Reconciliation is the method of verifying the accuracy and consistency of your financial statements.Reconciliation also helps identify and explain any discrepancies that may arise...
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...
All US citizens with foreign accounts need to worry about the tax implications. Uncle Sam does not treat all funds held in a foreign bank account the same way as a domestic bank account....
There are times you might need to leave an employer for another job, start your job, and other reasons besides employment. In this case, there are four options one have with the 401(k)...
First, the similarities: 529 custody plans and accounts, such as the UGMA (Uniform Gifts to Minors Act) or UTMA (Uniform Transfers to Minors Act), offer parents other ways to help...
It is a sad reality for many people that they will have to let go a particular percentage of their income to Uncle Sam. While there is nothing much we can do about that, the right...