Partnerships should use Schedule K-1 tax forms to distinguish partnership income from owners' income. By doing this, your business will more likely avoid the $54,171 tax penalties...
Posted by Taxes Made EZ Inc on 11/17/2022
The S & P are the talks happening in the stock market. These are indexes for a group of securities. They represent the trends in a particular market, economy segment, or industry....
Posted by Pat Raskob on 11/10/2022
Handling divorce and everything that concerns the situation is never easy, so the tax implication will likely be the last thing on your mind. Divorce affects a person emotionally,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/07/2022
The Federal Opportunity Zone is for poor communities with a future under certain conditions, including the opportunity for new investments that can tap into some tax benefits. A community...
Posted by Pat Raskob on 09/10/2022
Marriage is a lifetime commitment in most regions. The responsibility affects your lifestyle, finance, and career. Having a joint savings or investment account can strengthen marriage...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/31/2022
Keeping old tax records can save you time and effort if you are audited or need to file an amended tax return. Previous tax returns can also help you document your income when applying...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/24/2022
Settling an estate means paying the final tax bill. You can use the usual tax forms and Internal Revenue Service guidelines to file taxes on behalf of a deceased person, but it is...
Would it be a good idea if workers in a company own stocks in that same company? The ESOP answers that question. ESOP is known as the employee stock ownership program.The employee...
Posted by Pat Raskob on 05/22/2022
Owning a home is still an integral part of the American Dream, but it can be costly to achieve that dream, let alone keep it alive. According to a study, it takes an average of $40,224...
Posted by Rosovich & Associates, Inc. on 04/09/2022