As a self-employed worker, you can claim the status of an independent contractor. However, when it comes to paying taxes, your status has its peculiarities.If you're an independent...
Posted by CORE PERFORMANCE on 03/17/2022
There is no dodging of social security taxes for many people for their employment and self-employment taxes. However, there are exceptions to these groups of people.You cannot dodge...
Posted by Karen Munoz, EA on 11/30/2021
Over the years, Employee Stock Ownership Plans (ESOPs) have become pretty popular, while the traditional exit strategy has faded away. Many companies' owners pass ownership of...
Posted by CORE PERFORMANCE on 11/29/2021
As a sole proprietor, you are solely responsible for your business. You will need to encounter additional tax and reporting requirements, but you may also be eligible for certain tax...
Posted by CORE PERFORMANCE on 10/24/2021
Dealing with a health crisis can be very challenging as it takes a toll on not just your physical but your mental health, and it can be costly. Regarding taxes, medical expenses are...
When it comes to filing income tax returns, getting the lowest tax liability is not just about skill, it's about what you know. Unfortunately, many taxpayers lose deductions and...
Paying taxes should be a priority for everyone, no matter the line of business. One of the areas where the government shows incredible seriousness and dexterity is collecting tax debts....
This is an employer-sponsored pension plan that offers qualified employees a guaranteed payment during retirement. This is an alternative to the defined contribution plan, which allows...
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...