You can receive income in the form of money, goods, or services. This section deals with several types of taxable and non-taxable income. It includes discussions on employee salaries...
Posted by Carmen Garcia on 07/06/2021
It's tax season! Tax return companies and DIY software vendors work hard to convince individual taxpayers that their services and products are the way to maximize tax refunds or...
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...
One of the many questions I get as a tax and financial advisor is what business structure to choose when you are starting a business. Liability notwithstanding, a big determining factor...
Posted by Terrance Hutchins, CLU, CFP, RICP, EA on 01/21/2020
Centralized Partnership Audit Regime sounds dismal Partnership returns have another election to factor in this year — question 25 on Page 3 of Form 1065. Is the...
Posted by Flynn Financial Group Inc on 09/25/2019
Are you operating one single “owner” company or a member limited liability company? Thinking of making some multi-member LLC? In both ways, you are likely to face questions...
As the word itself describes, Partnership is a business legally owned by two or more owners. Since partnerships have no corporate status, they do not have to be taxed directly...
Posted by Esther N. Phahla, CPA, A Professional Corporation on 03/23/2018
A Limited Liability Company (LLC) is not recognized by the IRS and is not a separate entity. The IRS calls it a “pass-through entity” because its profits and losses are...
Posted by US and International Business Services on 03/08/2018
Husband-Wife Partnerships in FocusHusband-wife partnerships are specific kinds of businesses, and therefore they are legally permitted to file taxes somewhat differently to other kinds...