IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
Involuntary conversion is the theft or damage of property without the owner's consent, such as partial or total destruction, theft, condemnation, or the sale or exchange of property...
Posted by Flynn Financial Group Inc on 02/16/2021
Many American employees have many compensation packages in which stock options are one of them. It comes with complicated tax details even though all employees have the same right...
Posted by One Stop Taxes on 02/10/2021
A day trader employs the rise and fall of stock prices, hoping that it will result in net profit over a year. This means there will be a tax on the proceeds. There are, however,...
What are foreign tax credits?Foreign tax credits are non-refundable income tax credits paid to a foreign government because of income tax. The foreign tax credit is available for those...
All employees that were fired through whatever means except their own fault qualify for unemployment insurance – a joint program between the federal and state government that...
Finding out your business's shape can seem like a chore, as there are many types of businesses to start. A good option is a limited liability company (LLC), which has some of the...