When dealing with taxes, one needs to be proactive as things do not always move in a single direction. One might receive an income now with the mandate to repay some or everything...
When planning your retirement, it's fun to contemplate all the trips, the golf courses, and the restaurant meals that lie ahead. You deserve it! However, many retirees ignore the...
Depreciation deductions are provisions that can be made for capital expenditures on property, plant, and equipment. For properties placed in service after 1986, capital costs must...
The Internal Revenue Service takes time to make sure your tax situation is up to date. The tax code allows the IRS three years to verify the tax return and ten years to collect the...
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)...
On January 19, the Treasury Department and the IRS released a final rule to help tax-exempt nonprofits comply with excise tax which is considered excessive under Section 4960 of the...
Posted by Unifirst Financial & Tax Consultants on 03/15/2021
Merchants who sell online and/or in physical stores may receive an extract from the payment processor called Form 1099-K, Third Party Network, and Payment Card Transactions. There...
For small businesses that are growing, they can consider a C corporation for their business structure when it's time to expand fully. There are advantages and disadvantages that...
Uncle Sam has rules for pretty much everything. As a result, one should not be surprised to have rules guiding bankruptcy discharge. With this, if there is any reason for the IRS to...